HB 153: Economic Development
GENERAL BILL by Cruz ; (CO-INTRODUCERS) Danish
Economic Development; Provides tax credits for use by corporation against state corporate income tax in amount equal to specified percentage of corporation's payments to small business providing goods or services to corporation pursuant to contract; provides qualification criteria; requires business to submit application to DEO for approval to earn credits; provides application requirements; provides procedures & requirements for DEO approval; specifies amount of tax credit; prohibits tax credits from being carried forward or backward or being transferred or sold; provides criminal & administrative penalties for fraudulently claiming tax credits; authorizes DEO & DOR to adopt rules; revises order in which credits against corporate income tax or franchise tax may be taken to include certain credits relating to corporation's execution of business contract with small business; redefines term "adjusted federal income" to include amount of such tax credits.
Last Action: 5/3/2013 House - Died in Economic Development and Tourism Subcommittee
Bill Text: PDF
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Bill History
Date Chamber Action 1/14/2013 House • Filed
1/23/2013 House • Referred to Economic Development and Tourism Subcommittee; Finance and Tax Subcommittee; Transportation and Economic Development Appropriations Subcommittee; Economic Affairs Committee -HJ 30
3/5/2013 House • Introduced -HJ 30
5/3/2013 House • Died in Economic Development and Tourism Subcommittee
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HB 153, Original Filed Version (Current Bill Version) Posted 1/14/2013 at 10:08 AM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 450 Economic Development Soto Identical Last Action: 5/3/2013 S Died in Commerce and Tourism
Location: In committee/council (CM)
Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 220.02 Legislative intent. Page 6 (pdf) 220.13 “Adjusted federal income” defined. Page 6 (pdf) 220.1945 Page 2 (pdf)