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1996 SESSION

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HB 720 Day-care facility investment tax credit.

Introduced by: Joseph P. Johnson, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Day-care facility investment tax credit. Establishes an income tax credit for 25 percent of expenditures relating to the establishment of a licensed child day-care center for the children of the taxpayer's employees. The amount of the credit cannot exceed $25,000. Credits are nonrefundable and may be carried over for up to three years. Credits are awarded by the Tax Department in the order applications are filed, and the number of application approvals will be limited to cap the amount of tax credits available in any year at $100,000. The credits are available in taxable years beginning on and after January 1, 1997.

FULL TEXT

• 01/22/96  House: Presented & ordered printed 964672308  pdf
• 03/12/96  House: Bill text as passed House and Senate (HB720ER)  pdf
• 04/05/96  Governor: Acts of Assembly Chapter text (CHAP0497)  pdf

HISTORY

• 01/22/96  House: Presented & ordered printed 964672308
• 01/22/96  House: Referred to Committee on Finance
• 01/24/96  House: Assigned to Finance sub-committee: 2
• 02/10/96  House: Reported from Finance (22-Y 0-N)
• 02/10/96  House: Read first time
• 02/12/96  House: Read second time and engrossed
• 02/13/96  House: Read third time and passed House (Block Vote) (100-Y 0-N)
• 02/13/96  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/13/96  House: Communicated to Senate
• 02/14/96  Senate: Read first time
• 02/14/96  Senate: Referred to Committee on Finance
• 02/27/96  Senate: Reported from Finance (17-Y 0-N)
• 02/27/96  Senate: Constitutional reading dispensed (40-Y 0-N)
• 02/27/96  Senate: VOTE: (40-Y 0-N)
• 02/27/96  Senate: Read third time
• 02/27/96  Senate: Passed Senate (40-Y 0-N)
• 02/27/96  Senate: VOTE: (40-Y 0-N)
• 03/12/96  House: Bill text as passed House and Senate (HB720ER)
• 03/20/96  House: Enrolled
• 03/21/96  Senate: Signed by President
• 03/22/96  House: Signed by Speaker
• 04/01/96  Governor: Approved by Governor-Chapter 497 (effective 7/1/96)
• 04/05/96  Governor: Acts of Assembly Chapter text (CHAP0497)