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Glossary of Legislative Terms

CS/SB 1470: Capital Investment Tax Credit

GENERAL BILL by Commerce and Tourism ; Altman

Capital Investment Tax Credit; Specifies procedures to claim a sales and use tax credit. Authorizes a qualifying business that has insufficient corporate income tax liability to fully claim a capital investment tax credit to apply the credit against its liability for sales and use taxes to be collected, reported, and remitted to the Department of Revenue. Requires a qualifying business that receives a credit against its sales and use tax liability to make additional capital investments, etc.

Effective Date: 7/1/2011
 Last Action: 5/7/2011 Senate - Died in Budget
Bill Text: Web Page | PDF
Senate Committee References:
  1. Commerce and Tourism (CM)
  2. Budget (BC)

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  • Bill History

    Date Chamber Action
    3/1/2011 Senate • Filed
    3/9/2011 Senate • Referred to Commerce and Tourism; Budget -SJ 168
    • Introduced -SJ 168
    3/17/2011 Senate • On Committee agenda-- Commerce and Tourism, 03/22/11, 1:15 pm, 401 Senate Office Building
    3/22/2011 Senate • CS by Commerce and Tourism; YEAS 7 NAYS 0 -SJ 270
    3/23/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • CS by Commerce and Tourism read 1st time -SJ 277
    3/24/2011 Senate • Now in Budget -SJ 270
    5/7/2011 Senate • Indefinitely postponed and withdrawn from consideration
    • Died in Budget

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  • CS/SB 1470, Committee Substitute 1 (Current Bill Version) Posted 3/23/2011 at 11:16 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1069 (c1) Capital Investment Tax Credit Dorworth Identical Last Action: 5/7/2011 H Died in Finance and Tax Committee
    Location: In committee/council (FTC)     		Track This Bill

    Citations - Statutes (2)

    Citation Catchline Location in Bill Location In Bill Help
    212.08 Sales, rental, use, consumption, distribution, and storage tax; specified exemptions. Page 2 (pdf)
    220.191 Capital investment tax credit. Page 3 (pdf)

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  • SB 1470, Original Filed Version Posted 3/1/2011 at 1:19 PM

    Bill Text:   Web Page | PDF
    Analyses:   Commerce and Tourism (Pre-Meeting) 3/21/2011 (pdf)
    Commerce and Tourism (Post-Meeting) 3/23/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1069 Capital Investment Tax Credits Dorworth Similar Last Action: 5/7/2011 H Died in Finance and Tax Committee
    Location: In committee/council (FTC)     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    604438 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Commerce and Tourism
    (Ring)     		3/21/2011
    1:18 PM     		Replaced by Committee Substitute
    3/22/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/22/2011 1:15 PM Commerce and Tourism 7 Yeas - 0 Nays

    Citations - Statutes (1)

    Citation Catchline Location in Bill Location In Bill Help
    220.191 Capital investment tax credit. Page 2 (pdf)

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