SENATE BILL 727

Sponsored By:

Senators Simonaire, Brinkley, Colburn, Edwards, Getty, Glassman, Jacobs, Jennings, King, Manno, Peters, Pipkin, Reilly, Shank, and Young

Entitled:

Small Business Growth Initiative

Synopsis:

Allowing specified small businesses a credit against the State income tax in a specified amount for a specified guaranty fee paid in order to obtain financing from the United States Small Business Administration; providing for the carryover of unused credit to specified taxable years if the credit exceeds the State income tax otherwise payable for a taxable year; applying the Act to taxable years beginning after 2010; etc.

History by Legislative and Calendar Date

Senate Action

2/4

First Reading Budget and Taxation

2/23

Hearing 3/23 at 1:00 p.m.

3/2

Hearing cancelled

Hearing 3/17 at 1:15 p.m.

3/28

Unfavorable Report by Budget and Taxation

House Action

No Action

Sponsored by:

Senator Bryan W. Simonaire, District 31

Senator David R. Brinkley, District 4

Senator Richard F. Colburn, District 37

Senator George C. Edwards, District 1

Senator Joseph M. Getty, District 5

Senator Barry Glassman, District 35

Senator Nancy Jacobs, District 34

Senator J. B. Jennings, District 7

Senator Nancy J. King, District 39

Senator Roger P. Manno, District 19

Senator Douglas J. J. Peters, District 23

Senator E. J. Pipkin, District 36

Senator Edward R. Reilly, District 33

Senator Christopher B. Shank, District 2

Senator Ronald N. Young, District 3

Bill indexed under the following Subjects:

Federal Government

Fees -see also- Attys' Fees; Devt Fees & Taxes; Reimb Rates.

Income Tax

Loans -see also- Mortgages

Small Business

Tax Credits -see also- Circuit Breaker

Bill affects the following Statute:

Tax - General

( 10-729 )

Documents

Bill Text: First Reading, Third Reading, Enrolled

Fiscal and Policy Note: Available

Amendments: None offered

Committee Votes :

Senate

Budget and Taxation