SB 777 - Russell, John
Places an aggregate cap on all tax credits and establishes a commission to allocate the credits
Bill Details
Sponsor
LR Number
3036S.01I
Title
SB 777
House Handler
N/A
Journal Page
S78
Co-Sponsors
Effective Date
August 28, 2004
Committee
Current Status
Second Read and Referred S Ways & Means Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 777 - This act creates a commission to allocate tax credits. The allocation of credits cannot exceed one and one-half percent of the total general revenue collections from the prior fiscal year, or $125 million. The commission shall use and follow, to as reasonable extent, data reflecting usage of such credits for at least the two prior years as well as a forecasted use of each such credit in the current and next fiscal years when making a specific allocation.
JEFF CRAVER