Income tax, state; public school renovation tax credit. (HB734)

Introduced By

Del. Dave Albo (R-Springfield)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Income tax; public school renovation tax credit.  Provides an income tax credit to taxpayers that undertake and complete a public school renovation, in accordance with the provisions of the Public-Private Education Facilities and Infrastructure Act, for taxable years beginning on and after January 1, 2010. The amount of the credit is 25 percent of the taxpayer's eligible renovation expenses but cannot exceed $1 million in any one taxable year. Also, there is a cap of $100 million on the total amount of credits that may be allowed for all taxpayers in a taxable year. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2010Prefiled and ordered printed; offered 01/13/10 10103349D
01/12/2010Referred to Committee on Finance
01/24/2010Impact statement from TAX (HB734)
01/25/2010Assigned Finance sub: #3
01/29/2010Subcommittee recommends continuing to 2011 (4-Y 0-N)
02/01/2010Continued to 2011 in Finance
12/03/2010Left in Finance