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AR HB1410

Bill

Official Source

Status

Failed

4/22/2015

Primary Sponsor

Warwick Sabin

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Increases investment tax credit limit for income-producing or nonincome-producing property from $500,000 to $2,000,000, calculated at 25% of qualified rehabilitation or development expenditures
  • Removes separate $200,000 cap for nonincome-producing property
  • Increases annual tax credit issuance cap from $1,000,000 to $5,000,000 per fiscal year on a first-come, first-served basis
  • Establishes additional annual cap of $10,000,000 per fiscal year beginning July 1, 2017
  • Sets the subchapter effective date as July 31, 2015

Legislative Description

To Amend And Expand The Arkansas Central Business Improvement District Rehabilitation And Development Investment Tax Credit Act.

Last Action

Died in House Committee at Sine Die adjournment.

4/22/2015

Committee Referrals

Revenue and Taxation2/19/2015

Full Bill Text

No bill text available