SENATE BILL 219

File Code: Taxes - Miscellaneous Crossfiled with: HOUSE BILL 321

Sponsored By:

The President (By Request - Administration) and Senators Brinkley, Forehand, and Giannetti

Entitled:

Business and Economic Development - Biotechnology Investment Incentive Act

Synopsis:

Imposing eligibility restrictions for the State income tax credit allowed for investments in qualified biotechnology companies; altering limits on the amount of credits that may be claimed by specified persons; repealing a provision making the credit refundable under specified circumstances; imposing limits on the amount of credits the Secretary of Business and Economic Development may certify for investments in a single business; repealing provisions providing for the recapture of the credit under specified circumstances; etc.

History by Legislative Date

Senate Action

1/23

First Reading Budget and Taxation

Motion Rules Suspended Referred (Senator Green) Adopted

Referred Budget and Taxation

2/15

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

House Action

No Action

Sponsored by:

President of the Senate

Administration

Senator David R. Brinkley, District 4

Senator Jennie M. Forehand, District 17

Senator John A. Giannetti, Jr., District 21

Bill indexed under the following Subjects:

BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF

CORPORATIONS -see also- MUNICIPAL CORPORATIONS

INCOME TAX

INDUSTRY AND TECHNOLOGY

INVESTMENTS -see also- SECURITIES

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statutes:

Tax - General

( 10-725 , 10-725 , 10-725 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal Note (Displayed in PDF Format): Available

Amendments: None offered