SB0615

2013 Regular Session

 

Entitled:

Economic Development - Job Creation Incentive Tax Credit

Sponsored by:

Senator Klausmeier

Status:

In the Senate - Hearing 3/06 at 1:00 p.m.


Synopsis:Allowing a credit against the State income tax for wages paid by a qualified business entity for the creation of qualified positions; requiring the Department of Business and Economic Development to provide for the application and authorization of a certain amount of credits each year; providing for the calculation of the credit; establishing a specified Reserve Fund as a special fund; specifying the purpose of the Fund; requiring the Governor to appropriate at least $10,000,000 to the Fund in FY 2015 and FY 2016; etc.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Klausmeier, Benson, Brochin, Colburn, Ferguson, Forehand, Garagiola, Jacobs, Kittleman, Madaleno, and Middleton
Additional Facts:Bill File Type: Regular
Effective Date(s): July 1, 2013
Bill imposes a mandated appropriation in the annual State Budget Bill
Committee(s):
Budget and Taxation  Listen to Committee Hearing
Broad Subject(s):Economic and Community Development
Taxes - Income
Narrow Subject(s):Appropriations
Business and Economic Development, Department of
Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Comptroller
Corporations -see also- Municipal Corps; Public Corps & Inst
Disclosure
Income Tax
Notices
Privacy
Reports
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Rules and Regulations
Tax Credits -see also- Circuit Breaker
Work, Labor and Employment -see also- Col Barg; Holiday; etc
Statutes:Article - Economic Development
(6-601 through 6-608)
Article - Tax - General
(10-733)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


October 2, 2015 9:12 A.M.