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AR HB1981
Bill
Status
3/11/2013
Primary Sponsor
Warwick Sabin
Click for details
AI Summary
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Increases investment tax credit cap from $500,000 to $2,000,000 for income-producing or nonincome-producing central business improvement district property.
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Increases annual fiscal year limit for issuing investment tax credits from $1,000,000 to $5,000,000 on a first-come, first-served basis.
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Raises the annual fiscal year limit to $10,000,000 for investment tax credits beginning July 1, 2015.
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Changes the effective date of the subchapter to July 31, 2013, rather than requiring Chief Fiscal Officer certification of available funding in the General Improvement Fund.
Legislative Description
To Amend And Expand The Arkansas Central Business Improvement District Rehabilitation And Development Investment Tax Credit Act.
Last Action
Recommended for study in the Interim by Joint Interim Committee on REVENUE & TAXATION- HOUSE
4/19/2013