Mississippi Legislature

1999 Regular Session

Senate Bill 3107

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Income tax credit; authorize for contributions to certain low-income housing projects.

History of Actions:

102/05/99(S)Referred To Finance
202/24/99(S)Died In Committee

Background Information:

Effective dateJanuary 1, 2000
DispositionDead
DeadlineRevenue/Appropriation
RevenueYes
3/5ths vote requiredYes

Senate Committee:

Principal Author: Hewes

Title: AN ACT TO PROVIDE FOR A TAX CREDIT FOR BUSINESS TAXPAYERS IN THE AMOUNT OF 50% OF ANY CONTRIBUTION MADE TO ANY PROJECT DESIGNED TO CONSTRUCT OR REHABILITATE LOW-INCOME IN A BLIGHTED AREA THAT IS CONDUCTED BY CERTAIN ELIGIBLE SPONSORS; TO PROVIDE THAT THE MAXIMUM AMOUNT OF SUCH CREDIT; TO PROVIDE THAT SPONSORS AND PERSONS DESIRING TO UTILIZE SUCH CREDIT SHALL MAKE APPLICATION TO THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT; TO REQUIRE THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT TO MAKE CERTAIN ELIGIBILITY DETERMINATIONS REGARDING SUCH CREDIT; TO LIMIT THE MAXIMUM DOLLAR AMOUNT OF THE CREDIT THAT MAY BE GRANTED IN ANY ONE STATE FISCAL YEAR; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/24/99 at 14:25.



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