File Code: Miscellaneous
Crossfiled with: SENATE BILL 521
- Sponsored By:
-
Delegates Howard, Hurson, Rosapepe, Kopp, Rosenberg, Dembrow, Hecht,
McIntosh, Bobo, Morhaim, Barve, Finifter, C. Davis, Marriott, McKee,
and Muse
- Entitled:
-
Work, Not Welfare, Enterprise Zone, and New Job Creation Tax Credits -
Tax Exempt Organizations
Altering a definition under the Job Creation Tax Credit to make an
organization that is tax exempt under { 501(c)(3) or (4) of the
Internal Revenue Code eligible for the credit; adding specified exempt
purpose activities as activities qualifying a facility for the credit;
allowing a { 501(c)(3) or (4) tax exempt organization to transfer any
enterprise zone, work not welfare, or job creation tax credit to a
for-profit entity in exchange for a cash payment; and applying the Act
to the 3 tax years beginning after December 31, 1996.
House Action
- 1/31
- First Reading Ways and Means
- 2/5
- Hearing 2/18 at 3:00 p.m.
- 3/20
- Favorable with Amendments Report by Ways and Means
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/21
- Third Reading Passed (125-9)
Senate Action
- 3/24
- First Reading Budget and Taxation
- 3/26
- Hearing 3/28 at 1:00 p.m.
- 4/3
- Referred to interim study by Budget and Taxation
- Sponsored by:
- Delegate Carolyn J. B. Howard, District 24
- Delegate Kumar P. Barve, District 17
- Delegate Elizabeth Bobo, District 12B
- Delegate Clarence Davis, District 45
- Delegate Dana Lee Dembrow, District 20
- Delegate Michael J. Finifter, District 11
- Delegate Sue C. Hecht, District 3
- Delegate John Adams Hurson, District 18
- Delegate Nancy K. Kopp, District 16
- Delegate Salima Siler Marriott, District 40
- Delegate Maggie L. McIntosh, District 42
- Delegate Robert A. McKee, District 2A
- Delegate Dan K. Morhaim, District 11
- Delegate C. Anthony Muse, District 26
- Delegate James C. Rosapepe, District 21
- Delegate Samuel I. Rosenberg, District 42
- Bill indexed under the following Subjects:
- COMMERCE AND BUSINESS -see also- SMALL BUSINESS
- ENTERPRISE ZONES
- NONPROFIT ORGANIZATIONS
- SUNSET
- TAX CREDITS
- WELFARE -see also- SOCIAL SERVICES
- Bill affects the following Statutes:
- Article - 83A Department of Business and Economic Development
- (
5-1101 ,
5-1102
)
- Tax - General
- (
10-702 ,
10-704.3 ,
10-704.4
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled
- Fiscal Note:
Available (PDF)
Amendments:
- House
- Number: 515237/1 (PDF) Offered on: MARCH 20, 1997 at: 16:35
Status: Adopted