SB 682 – Decreases acreage requirements for eligibility under the Distressed Areas Land Assemblage Tax Credit Act

• Sponsor: Wilson
• LR Number: 3452S.01I
• Committee: Governmental Accountability and Fiscal Oversight
• Last Action: 1/13/2010 - Second Read and Referred S Governmental Accountability and Fiscal Oversight Committee
• Journal Page: S115
• Effective Date: August 28, 2010

Current Bill Summary

SB 682 - This act modifies the distressed areas land assemblage tax credit program definition of the term "eligible project area", by decreasing the size requirement for the area from seventy-five acres to forty acres. The requirement that eligible parcels acquired by the applicant within the eligible project area total at least fifty acres has been reduced to at least thirty acres.

This act is identical to Senate Bill 75 (2009) and Senate Bill 814 (2008).

JASON ZAMKUS