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2020 SESSION

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HB 1241 Income tax, state; modifications for certain companies in economically distressed localities.

Introduced by: Steve E. Heretick | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax modifications for certain companies in economically distressed localities. Adds the City of Portsmouth to the list of economically distressed localities in which a company may invest to become eligible for certain income tax modifications. Under current law, a company is eligible for such modifications if, among other things, it either (i) invests at least $5 million in new capital investment in a qualified locality and creates at least 10 jobs paying at least 150 percent of the minimum wage in a qualified locality or (ii) creates at least 50 jobs paying at least 150 percent of the minimum wage in a qualified locality.

FULL TEXT

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20103381D  pdf | impact statement

HISTORY

• 01/08/20  House: Prefiled and ordered printed; offered 01/08/20 20103381D
• 01/08/20  House: Referred to Committee on Finance
• 01/16/20  House: Assigned Finance sub: Subcommittee #1
• 01/20/20  House: Subcommittee failed to recommend reporting (3-Y 5-N)
• 02/11/20  House: Left in Finance