HOUSE BILL 1230

Sponsored By:

Delegate La Vay

Entitled:

Income Tax - Credit for Qualified Development Project

Synopsis:

Allowing an individual or business entity to claim a State income tax credit for qualified development expenditures incurred in a qualified development project; providing that the credit is in a specified amount for qualified development projects located in specified areas; prohibiting the same tax credit from applying more than once against different taxes; allowing unused credit to be applied in succeeding taxable years; authorizing an individual or business entity to transfer the amount of unused credit; etc.

History by Legislative Date

House Action

2/8

First Reading Ways and Means

2/20

Hearing 3/12 at 1:00 p.m.

3/12

Hearing cancelled

3/14

Withdrawn

Senate Action

No Action

Bill indexed under the following Subjects:

ART, MUSIC AND CULTURAL AFFAIRS -see also- MUSEUMS; THEATERS

COMMERCIAL REHABILITATION

COMMUNITY DEVELOPMENT

ENTERPRISE ZONES

INCOME TAX

TAX CREDITS -see also- CIRCUIT BREAKER

URBAN RENEWAL -see also- COMMERCIAL REHABILITATION

Bill affects the following Statute:

Tax - General

( 10-724 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered