SB 917 – Raises the fee that the Department of Economic Development may charge for issuing certain tax credits from 2.5% to 5%

• Sponsor: Richard
• LR Number: 6185S.01I
• Committee: Jobs, Economic Development and Local Government
• Last Action: 3/13/2014 - Second Read and Referred S Jobs, Economic Development and Local Government Committee
• Journal Page: S567
• Effective Date: August 28, 2014

Current Bill Summary

SB 917 - Currently, the Department of Economic Development may collect a fee for issuance of certain tax credits. The amount collected cannot exceed 2.5% of the amount of the tax credit. The fees collected are deposited into the Economic Development Advancement Fund. This act raises the amount that may be collected to 5% of the amount of the tax credit.

This act is similar to HB 2030 (2014).

MIKE HAMMANN