HB 1057: Small Business Growth
GENERAL BILL by Cruz
Small Business Growth; 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; 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 department 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.
Last Action: 3/9/2012 House - Died in Business and Consumer Affairs Subcommittee
Bill Text: PDF
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Bill History
Date Chamber Action 12/16/2011 House • Filed
12/28/2011 House • Referred to Business and Consumer Affairs Subcommittee; Rulemaking and Regulation Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 103
1/10/2012 House • Introduced -HJ 103
3/9/2012 House • Died in Business and Consumer Affairs Subcommittee
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HB 1057, Original Filed Version (Current Bill Version) Posted 12/16/2011 at 8:16 AM
Bill Text: PDF Analyses: None Related Bills (2)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1288 Small Business Growth Garcia Similar Last Action: 3/9/2012 S Died in Commerce and Tourism
Location: In committee/council (CM)
S 76 Job Creation Garcia Compare Last Action: 3/9/2012 S Died in Commerce and Tourism, companion bill(s) passed, see CS/CS/HB 887 (Ch. 2012-72), HB 7087 (Ch. 2012-32)
Location: In committee/council (CM)
Citations - Statutes (3)
Citation Catchline Location in Bill Location In Bill Help 220.02 Legislative intent. Page 2 (pdf) 220.13 “Adjusted federal income” defined. Page 2 (pdf) 220.1945 Page 5 (pdf)