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CS/SB 1470: Capital Investment Tax Credit

GENERAL BILL by Commerce and Tourism ; Altman

Capital Investment Tax Credit; Specifies procedures to claim a sales and use tax credit. Authorizes a qualifying business that has insufficient corporate income tax liability to fully claim a capital investment tax credit to apply the credit against its liability for sales and use taxes to be collected, reported, and remitted to the Department of Revenue. Requires a qualifying business that receives a credit against its sales and use tax liability to make additional capital investments, etc.

Effective Date: 7/1/2011
Last Action: 5/7/2011 Senate - Died in Budget
Location: In committee/council (BC)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Budget (BC)



Bill History

Date Chamber Action
3/1/2011 Senate • Filed
3/9/2011 Senate • Referred to Commerce and Tourism; Budget -SJ 168
• Introduced -SJ 168
3/17/2011 Senate • On Committee agenda-- Commerce and Tourism, 03/22/11, 1:15 pm, 401 Senate Office Building
3/22/2011 Senate • CS by Commerce and Tourism; YEAS 7 NAYS 0 -SJ 270
3/23/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• CS by Commerce and Tourism read 1st time -SJ 277
3/24/2011 Senate • Now in Budget -SJ 270
5/7/2011 Senate • Indefinitely postponed and withdrawn from consideration
• Died in Budget