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CS/CS/SB 1264: Rural and Urban Business Enterprises

GENERAL BILL by Appropriations Committee on Transportation, Tourism, and Economic Development ; Commerce and Tourism ; Collins

Rural and Urban Business Enterprises; Revising the purpose of the Department of Commerce; deleting the definition of the term “minority business enterprise”; establishing the Research, Innovation, Science, and Engineering (RISE) Investment Tax Credit Program within the Department of Commerce; requiring the department to authorize the Department of Revenue to issue tax credits to a qualifying private fund if certain requirements are met; requiring the department to issue a notice of revocation and recapture to the qualifying private fund and the Department of Revenue, etc.

Effective Date: 7/1/2025
Last Action: 4/22/2025 Senate - CS/CS by Appropriations Committee on Transportation, Tourism, and Economic Development read 1st time
Bill Text: Web Page | PDF



Bill History

Date Chamber Action
2/25/2025 Senate • Filed
3/3/2025 Senate • Referred to Commerce and Tourism; Finance and Tax; Appropriations Committee on Transportation, Tourism, and Economic Development; Rules
3/4/2025 Senate • Introduced
3/26/2025 Senate • On Committee agenda-- Commerce and Tourism, 03/31/25, 1:30 pm, 110 Senate Building
3/31/2025 Senate • CS by Commerce and Tourism; YEAS 7 NAYS 2
4/2/2025 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• CS by Commerce and Tourism read 1st time
4/3/2025 Senate • Original reference(s) removed: Finance and Tax
• Remaining references corrected to Appropriations Committee on Transportation, Tourism, and Economic Development; Rules
• Now in Appropriations Committee on Transportation, Tourism, and Economic Development
4/10/2025 Senate • On Committee agenda-- Appropriations Committee on Transportation, Tourism, and Economic Development, 04/15/25, 8:30 am, 110 Senate Building
4/15/2025 Senate • CS/CS by Appropriations Committee on Transportation, Tourism, and Economic Development; YEAS 13 NAYS 2
4/17/2025 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• Now in Rules
• On Committee agenda-- Rules, 04/21/25, 2:00 pm, 412 Knott Building --Temporarily Postponed
4/22/2025 Senate • CS/CS by Appropriations Committee on Transportation, Tourism, and Economic Development read 1st time