SB 39 - This act places a cap on the total amount of tax credits that may be authorized in a fiscal year. For the fiscal year beginning on July 1, 2017, the cap is $575 million. The cap will be reduced by three percent in each of the following five fiscal years. Thereafter, the cap will be adjusted in accordance with the percent change in general revenue collections.
This act contains an emergency clause.
This act is identical to SB 615 (2016) and SB 507 (2015).