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1995 SESSION

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HB 1412 Enterprise zone real property investment tax credit.

Introduced by: Stephen D. Newman | all patrons    ...    notes | add to my profiles

SUMMARY:

Enterprise zone real property investment tax credit. Effective for taxable years 1996 through 2005, provides a 15 percent credit for certain improvements made in enterprise zones. The credit can be used for or against income, insurance gross receipts, or public service corporation taxes.

The bill also modifies the eligibility of a business firm to qualify under the provisions of the Enterprise Zone Act by designating criteria which must be met involving the percentage of employees who are either residents of the zone or have incomes below 80 percent of the median income for the jurisdiction prior to employment.


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