Description: Income tax; provide a credit for employers that incur costs to promote employee physical fitness.
Bill Text: [Introduced]
History of Actions:
|1||01/08 (H) Referred To Ways and Means|
|2||02/26 (H) Died In Committee|
|Effective date||January 1, 2003|
|Vote type required||Three/Fifths|
Principal Author: Whittington
Additional Authors: Chism, Dickson, Eads, Fredericks, Lott, Livingston, Martinson, Montgomery (15th), Moody, Moore (60th), Robinson (63rd), Ryals, Scott (17th), Smith (39th), West
Title: AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR EMPLOYERS THAT INCUR COSTS FOR THE PURPOSE OF PROMOTING EMPLOYEE PHYSICAL FITNESS AND WELL-BEING; TO PROVIDE THE TYPE OF COSTS THAT QUALIFY FOR THE INCOME TAX CREDIT; TO LIMIT THE AMOUNT OF THE TAX CREDIT TO THE LESSER OF 10% OF THE COSTS INCURRED BY THE EMPLOYER FOR SUCH PURPOSES OR 50% OF THE INCOME TAX IMPOSED UPON THE EMPLOYER FOR THE TAXABLE YEAR; TO PROVIDE THAT ANY UNUSED PORTION OF THE INCOME TAX CREDIT MAY BE CARRIED FORWARD FOR THE NEXT FIVE SUCCEEDING TAX YEARS; AND FOR RELATED PURPOSES.
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