General Bill
Economic Development:
Provides tax credits for use by corporation against state corporate income tax in amount equal to specified percentage of corporation's payments to small business providing goods or services to corporation pursuant to contract; provides qualification criteria; requires business to submit application to DEO for approval to earn credits; provides application requirements; provides procedures & requirements for DEO approval; specifies amount of tax credit; prohibits tax credits from being carried forward or backward or being transferred or sold; provides criminal & administrative penalties for fraudulently claiming tax credits; authorizes DEO & DOR to adopt rules; revises order in which credits against corporate income tax or franchise tax may be taken to include certain credits relating to corporation's execution of business contract with small business; redefines term "adjusted federal income" to include amount of such tax credits.
Effective Date:
January 1, 2014
Last Event:
Died in Economic Development & Tourism Subcommittee on Friday, May 3, 2013 7:16 PM
Bill #
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Subject
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Relationship
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Bill #:
SB 450
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Subject:
Economic Development
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Relationship:
Identical
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Statute
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Other Bill Citations
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220.02
|
SB 450,
HB 475,
SB 692,
HB 965,
CS/SB 1598,
SB 1604,
HB 7071
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220.13
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SB 450,
HB 475,
SB 1516,
CS/SB 1598,
HB 7099
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220.1945
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SB 450
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