HB 153: Economic Development
GENERAL BILL by Cruz ; (CO-INTRODUCERS) Danish
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.
Last Action: 5/3/2013 House - Died in Economic Development and Tourism Subcommittee
Bill Text: PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 1/14/2013 | House |
• Filed |
| 1/23/2013 | House |
• Referred to Economic Development and Tourism Subcommittee; Finance and Tax Subcommittee; Transportation and Economic Development Appropriations Subcommittee; Economic Affairs Committee -HJ 30 |
| 3/5/2013 | House |
• Introduced -HJ 30 |
| 5/3/2013 | House |
• Died in Economic Development and Tourism Subcommittee |
