SB507 - Creates a limit for the total amount of tax credits that may be authorized in a fiscal year

SB 507

Creates a limit for the total amount of tax credits that may be authorized in a fiscal year

Sponsor:	Silvey
LR Number:	2260S.01I	Fiscal Notes
Committee:	Jobs, Economic Development and Local Government
Last Action:	3/10/2015 - Second Read and Referred S Jobs, Economic Development and Local Government Committee	Journal Page:	S531

Title:		Calendar Position:
Effective Date:	Emergency clause

List of 2015 Senate Bills

Current Bill Summary

SB 507 - This act places a cap on the total amount of tax credits that may be authorized in a fiscal year. For FY 2016, the cap is $575 million. The cap will be reduced by 3% in each of the following five fiscal years. Thereafter, the cap will be adjusted in accordance with the percent changes in general revenue collections.

This act contains an emergency clause.

MIKE HAMMANN