Bill Title: Amends the Economic Development for a Growing Economy Tax Credit Act. With respect to credits that are taken against the Taxpayer's withholding tax payments, provides that certain amounts shall be returned to the Department of Commerce and Economic Opportunity and reallocated to the local workforce investment area in which the project was located if, during the term of the Agreement or at any time within 20 years after the expiration of the Agreement, the Taxpayer sells its operations or the principal part of the portion of its operations that is located in the State. Provides that the provisions do not apply if the sale is at a loss to the Taxpayer.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee [HB5521 Detail]

Text: Latest bill text (Introduced) [HTML]

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