SB 1258
Modifies provisions relating to earnings tax
Sponsor:
LR Number:
4474S.01I
Committee:
Last Action:
1/25/2024 - Second Read and Referred S Fiscal Oversight Committee
Journal Page:
Title:
Effective Date:
August 28, 2024

Current Bill Summary

SB 1258 - This act provides that earnings tax shall not be imposed upon the salaries of residents of or persons performing work in an earnings tax opportunity zone, nor on the net profits of businesses performing work in an earnings tax opportunity zone. An earnings tax opportunity zone is defined as an opportunity zone cluster of qualified census tracts organized within a distressed community, as such terms are defined in the act.

This act is identical to HB 1479 (2024).

JOSH NORBERG

Amendments

No Amendments Found.