SB0873 (CH0489)

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2017 Regular Session



Economic Development - Job Creation Tax Credit - Alteration

Sponsored by:

Senator Madaleno


Approved by the Governor - Chapter 489

Synopsis:Altering the definitions of "qualified position" and "State priority funding area" for purposes of the job creation tax credit program; requiring the Department of Commerce to certify the amount of the tax credit for which a qualified business entity is eligible; altering the calculation of the credits earned under the program; prohibiting the Department from certifying tax credits in a taxable year in excess of $4,000,000; applying the Act to job creation tax credits certified after December 31, 2017; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Senator Madaleno (By Request - Tax Credit Evaluation Committee) and Senators Kasemeyer, Currie, DeGrange, Eckardt, Edwards, Ferguson, Guzzone, King, Manno, McFadden, Peters, and Serafini
Additional Facts:Cross-filed with: HB1052
Bill File Type: Regular
Effective Date(s): July 1, 2017
Budget and Taxation  View Committee HearingWays and Means  View Committee Hearing
Broad Subject(s):Economic and Community Development
Narrow Subject(s):Claims
Commerce and Business -see also- Dealers; Elec. Comm.; etc.
Commerce, Department of
Commercial Rehabilitation -see also- Urban Renewal
Committees and Commissions -see also- Political Committees
Insurance -see also- Health Ins; MAIF; Motor Vehicle Ins
Labor, Licensing, and Regulation, Department of
Tax Credits
Statutes:Article - Economic Development
(6-301, 6-303, 6-304, 6-305, 6-307, 6-309)

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Explanation of Floor Motions and Actions

November 28, 2017 1:13 P.M.