History of Actions | Background | Title |
Description: Income tax credits; limit to the income tax liabilities derived from the business income which generates the credit.
| 1 | 01/20/97 | (S) | Referred To Finance | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Bryan
Title: AN ACT TO PROVIDE THAT CERTAIN INCOME TAX CREDITS SHALL BE LIMITED TO THE INCOME TAX LIABILITIES DERIVED FROM THE BUSINESS INCOME WHICH GENERATED THE CREDITS AND CANNOT BE APPLIED TO OTHER INCOME TAX LIABILITIES UNLESS SPECIFICALLY ALLOWED BY LAW; TO PROVIDE THAT INCOME TAX CREDITS FOR BUSINESSES THAT DO NOT PAY INCOME TAXES MAY BE PASSED TO THE OWNERS OF THE BUSINESS BUT THAT SUCH CREDIT IS LIMITED TO THE TAX LIABILITIES DERIVED FROM THE NET INCOME DIRECTLY ASSOCIATED WITH THE CREDIT UNLESS OTHERWISE PROVIDED BY LAW; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2966.htm