File Code: Miscellaneous
Crossfiled with: HOUSE BILL 721
- Sponsored By:
-
Senators Boozer, Kelley, McCabe, Sfikas, Van Hollen, McFadden, Munson,
Middleton, Currie, and Ruben
- 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 tax years beginning after December 31, 1996.
Senate Action
- 1/31
- First Reading Budget and Taxation
- 2/5
- Hearing 2/12 at 1:30 p.m.
- 3/17
- Referred to interim study by Budget and Taxation
House Action
- No Action
- Sponsored by:
- Senator F. Vernon Boozer, District 9
- Senator Ulysses Currie, District 25
- Senator Delores G. Kelley, District 10
- Senator Christopher J. McCabe, District 14
- Senator Nathaniel J. McFadden, District 45
- Senator Thomas McLain Middleton, District 28
- Senator Donald F. Munson, District 2
- Senator Ida G. Ruben, District 20
- Senator Perry Sfikas, District 46
- Senator Christopher Van Hollen, Jr., District 18
- Bill indexed under the following Subjects:
- COMMERCE AND BUSINESS -see also- SMALL BUSINESS
- ENTERPRISE ZONES
- NONPROFIT ORGANIZATIONS
- 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, Enrolled
- Fiscal Note:
Available (PDF)