Legislation

Title: Historic Revitalization Tax Credit - Transferability, Funding, and Extension (Historic Revitalization Tax Credit Improvement Act of 2020)
Sponsored by: Senators Hester, Ellis, Guzzone, Hayes, McCray, Salling, and West
Status: In the Senate - Hearing 2/18 at 2:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Making a certain tax credit for commercial rehabilitations under the historic revitalization tax credit program transferable and refundable under certain circumstances; requiring the Governor to include in the annual budget bill an appropriation of at least $15,000,000 in fiscal year 2022, increasing in each intervening fiscal year up to $30,000,000 in fiscal year 2025, for the tax credit reserve fund; extending the tax credit through fiscal year 2028; applying the Act to taxable years beginning after December 31, 2019; etc.

Committees

Original:: Budget and Taxation Click to view Recorded Media

Committee Testimony

Witness List

Details

Cross-filed with: HB0862

Bill File Type: Regular

Effective Date(s): July 1, 2020

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber Senate Calendar Date 2/03/2020 Legislative Date 2/03/2020 Action First Reading Budget and Taxation Proceedings
Chamber Senate Calendar Date 2/06/2020 Legislative Date 2/06/2020 Action Hearing 2/18 at 2:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Historic Revitalization Tax Credit - Transferability, Funding, and Extension (Historic Revitalization Tax Credit Improvement Act of 2020) Proceedings

Chamber	Calendar Date	Legislative Date	Action
Senate	2/03/2020	2/03/2020	First Reading Budget and Taxation
Senate	2/06/2020	2/06/2020	Hearing 2/18 at 2:00 p.m.
			Text - First - Historic Revitalization Tax Credit - Transferability, Funding, and Extension (Historic Revitalization Tax Credit Improvement Act of 2020)

File Code

Subjects

Statutes