HB 765 -- Tax Credit Contracts and Eligibility Notices

Co-Sponsors:  Rizzo, Campbell

This bill requires the Department of Economic Development to
execute contracts with taxpayers eligible after August 28,
1999,  for Enterprise Zone and New and Expanding Business
Facility Tax Credits.  These contracts are to specify the terms
and conditions of eligibility for the tax credits, including the
stipulation that loss of eligibility during the 10 year
eligibility period can occur if program requirements are not
met.  For tax credits certified prior to August 28, 1999, the
department is required to send each taxpayer a notice, by
January 1, 2000, stipulating that loss of eligibility during the
10 year eligibility period can occur if program requirements are
not met.