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2009 SESSION
SB 1165 Enterprise zone economic incentive grants; eligibility therefor.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Enterprise zone economic incentive grants. Increases from $50,000 to $100,000 the minimum amount of investment required to be made in the rehabilitation or expansion of a building in order to be eligible for an enterprise zone incentive grant, and increases from $250,000 to $500,000 the minimum amount of investment required to be made for new construction in order to be eligible for an enterprise zone incentive grant. Grants would be calculated at a rate of 20 percent of the amount of qualified real property investment in excess of $500,000 for the construction of a new building or facility. Grants would be calculated at a rate of 20 percent of the amount of qualified real property investment in excess of $100,000 in the case of a rehabilitation or expansion of an existing building or facility. The bill would provide that any investor making $5 million or less in qualified real property investment in a building would be allowed a maximum of $100,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $125,000). The bill would provide that any investor making more than $5 million in qualified real property investment in a building would be allowed a maximum of $200,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $250,000). The bill also makes technical changes.
FULL TEXT
- 01/13/09 Senate: Prefiled and ordered printed; offered 01/14/09 094460812 pdf | impact statement
- 02/06/09 Senate: Printed as engrossed 094460812-E pdf | impact statement
- 03/04/09 Senate: Bill text as passed Senate and House (SB1165ER) pdf | impact statement
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0271) pdf
AMENDMENTS
HISTORY
- 01/13/09 Senate: Prefiled and ordered printed; offered 01/14/09 094460812
- 01/13/09 Senate: Referred to Committee on Commerce and Labor
- 01/19/09 Senate: Rereferred from Commerce and Labor (9-Y 0-N)
- 01/19/09 Senate: Rereferred to Finance
- 02/04/09 Senate: Reported from Finance with amendments (16-Y 0-N)
- 02/05/09 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/06/09 Senate: Read second time
- 02/06/09 Senate: Reading of amendments waived
- 02/06/09 Senate: Committee amendments agreed to
- 02/06/09 Senate: Engrossed by Senate as amended SB1165E
- 02/06/09 Senate: Printed as engrossed 094460812-E
- 02/09/09 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/13/09 House: Placed on Calendar
- 02/13/09 House: Read first time
- 02/13/09 House: Referred to Committee on Appropriations
- 02/16/09 House: Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
- 02/19/09 House: Subcommittee recommends reporting
- 02/23/09 House: Reported from Appropriations (24-Y 0-N)
- 02/24/09 House: Read second time
- 02/25/09 House: Read third time
- 02/25/09 House: Passed House BLOCK VOTE (100-Y 0-N)
- 02/25/09 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 03/04/09 Senate: Enrolled
- 03/04/09 Senate: Bill text as passed Senate and House (SB1165ER)
- 03/05/09 Senate: Signed by President
- 03/06/09 House: Signed by Speaker
- 03/27/09 Governor: Approved by Governor-Chapter 271 (effective 7/1/09)
- 03/27/09 Governor: Acts of Assembly Chapter text (CHAP0271)