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2004 SESSION

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HB 599 Enterprise zones; designations and business and real property investment tax credit.

Introduced by: Allen W. Dudley | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Enterprise zone designations. Adds 5 enterprise zones to the number the Governor may designate, for a total of 65. The bill also requires the new zones to be designated in localities that have no enterprise zones as of July 1, 2004. The bill also increases the $16 million cap to $18 million, effective July 1, 2006.

SUMMARY AS INTRODUCED:

Enterprise zone designations. Adds 10 enterprise zones to the number the Governor may designate, for a total of 70. The bill also requires five of the new 10 to be designated in localities that have no enterprise zones as of July 1, 2004. Finally, it allows localities having a zone that is adjacent to another locality without a zone to expand the existing zone into the adjacent locality without any further designation from the Governor.