HB 165: Economic Development
GENERAL BILL by Cruz ; (CO-INTRODUCERS) Campbell
Economic Development; Provides corporate tax credit against state corporate income tax in amount equal to specified percentage of corporation's payments to small business providing goods or services to the corporation; provides qualification criteria; requires corporation & business to submit application to DEO for approval to earn credits; provides procedures & requirements for department approval; specifies amount of tax credit; prohibits tax credits from being carried forward or backward or being transferred or sold; provides criminal & administrative penalties; 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: 5/2/2014 House - Died in Economic Development and Tourism Subcommittee
Bill Text: PDF
• Referred to Economic Development and Tourism Subcommittee; Finance and Tax Subcommittee; Transportation and Economic Development Appropriations Subcommittee; Economic Affairs Committee -HJ 20
• Introduced -HJ 20
• Died in Economic Development and Tourism Subcommittee
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