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Legislation


2004 Regular Session

SENATE BILL 124

File Code: Taxes - Income Crossfiled with: HOUSE BILL 57
Sponsored By:
Senator Forehand
Entitled:
Biotechnology Investment Incentive Act

Synopsis:

Providing for credits against State income taxes or the insurance premium tax for specified investments in biotechnology companies and venture capital firms; providing for applications to the Department of Business and Economic Development for approval of the credit and certification by the Department to investors of approved credit amounts; limiting to $12,000,000 the total amount of credits that the Department may approve for any calendar year; etc.

History by Legislative Date

Senate Action
1/21
First Reading Budget and Taxation
1/28
Hearing 2/4 at 1:00 p.m.
3/8
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
INCOME TAX
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
INVESTMENTS -see also- SECURITIES
REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.
RULES AND REGULATIONS
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statutes:
Insurance
( 6-121 )
Tax - General
( 10-725 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered
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