SB 789 Modifies provisions of the New Generation Cooperative Tax Credit Program to authorize tax credits for early-stage market feasibility projects
Sponsor: Shoemyer Co-Sponsor(s)
LR Number: 3701S.02I Fiscal Note:
Committee: Governmental Accountability and Fiscal Oversight
Last Action: 1/25/2010 - Second Read and Referred S Governmental Accountability and Fiscal Oversight Committee Journal Page: S166
Title: Calendar Position:
Effective Date: August 28, 2010

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Current Bill Summary

SB 789 - This act modifies provisions of the new generation cooperative tax credit program to allow ten percent of the tax credits available under the program to be offered for early-stage market feasibility projects. Any eligible new generation processing entity which fails to incur capital costs within five years of the first tax credit offering for its early-stage marketing feasibility project will be required to repay an amount equal to all tax credits issued to producer members for the project.