IN HB1241 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Republican 4-0)
Status: Engrossed on January 31 2012 - 50% progression, died in committee
Action: 2012-02-07 - Committee report: amend do pass, reassigned to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on January 31 2012 - 50% progression, died in committee
Action: 2012-02-07 - Committee report: amend do pass, reassigned to Committee on Tax and Fiscal Policy
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Engrossed) [HTML]
Summary
Permits a venture capital investment tax credit that has been certified by the economic development corporation to be applied against tax liability when the qualified investment capital is provided regardless of whether the total amount of tax credits applied by all taxpayers in that particular calendar year exceeds $12,500,000. Permits the economic development corporation to designate one rural county as a rural entrepreneurship area development incentive area (area). Provides for the transfer of adjusted gross income taxes withheld from employees working for a new business in an area to the rural county for purposes of developing new business opportunities in the rural county. Limits the amount that may be transferred in any year to $500,000.
Title
Economic development incentives.
Sponsors
Roll Calls
2012-01-31 - House - House - Third reading: passed (Y: 85 N: 13 NV: 0 Abs: 2) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-02-07 | Committee report: amend do pass, reassigned to Committee on Tax and Fiscal Policy | |
| 2012-02-01 | First reading: referred to Committee on Commerce & Economic Development | |
| 2012-01-31 | Senate sponsor: Senator Leising | |
| 2012-01-31 | Referred to the Senate | |
| 2012-01-31 | Third reading: passed; Roll Call 171: yeas 85, nays 13 | |
| 2012-01-30 | Amendment 1 (Ellspermann), prevailed; voice vote | |
| 2012-01-30 | Second reading: amended, ordered engrossed | |
| 2012-01-27 | Referral to Committee on Ways and Means withdrawn | |
| 2012-01-27 | Referred to Committee on Ways and Means pursuant to House Rule 127 | |
| 2012-01-27 | Committee report: amend do pass, adopted | |
| 2012-01-12 | Representatives Davis, Bacon and Davisson added as coauthors | |
| 2012-01-09 | First reading: referred to Committee on Commerce, Small Business and Economic Development | |
| 2012-01-09 | Authored by Representative Ellspermann |
