SENATE BILL 428

File Code: Taxes - Income Prior Year Introduction As: SB 739/06

Sponsored By:

Senator McFadden

Entitled:

Corporate Income Tax - Tax Credit for Location in a Higher Education-Affiliated Research Park

Synopsis:

Providing a tax credit against the State income tax for eligible expenses of corporations that locate to a higher education-affiliated research park; requiring the Department of Business and Economic Development to administer the tax credit; requiring the Department to adopt regulations jointly with the Comptroller; providing that tax credits for eligible expenses of corporations that locate to a higher education-affiliated research park may be transferred under specified circumstances; etc.

History by Legislative and Calendar Date

Senate Action

2/2

First Reading Budget and Taxation

2/7

Hearing 2/28 at 1:00 p.m.

3/12

Unfavorable Report by Budget and Taxation

House Action

No Action

Bill indexed under the following Subjects:

Business and Economic Development, Department of

Commerce and Business -see also- Dealers; Traders; etc

Comptroller

Corporations -see also- Municipal Corps; Public Corps & Inst

Higher Education -see also- Comm Colleges; Med Schools; etc.

Income Tax

Industry and Technology

Notices

Reports

Rules and Regulations

Tax Credits -see also- Circuit Breaker

Bill affects the following Statute:

Tax - General

( 10-726 )

Documents:

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

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered