A bill to amend the Internal Revenue Code of 1954 to provide an additional investment credit for property which will assist employment opportunities in counties designated as balanced growth areas under State law.
Balanced Growth Tax Credit Act - Allows as an investment credit against the income tax an additional 3 percent of the qualified investment under the Internal Revenue Code attributable to qualified balanced growth property.
Defines balanced growth property to mean: (1) property which will assist in providing new employment opportunities; (2) property which will be used in the manufacture or distribution of personal property; or (3) property which will be used in connection with a facility providing recreation to the public.
Introduced in Senate
Referred to Senate Committee on Finance.
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