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AR SB465
Bill
Status
5/5/2025
Primary Sponsor
Breanne Davis
Click for details
AI Summary
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Developers of speculative development projects become eligible for state and local sales and use tax refunds if they invest at least $25 million in land, buildings, and equipment
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Speculative development projects are defined as flexible-design structures built for eventual sale or lease that have at least 100,000 square feet of usable space
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Financial incentive agreements for the same project under different sections of the Consolidated Incentive Act must be executed within 24 months of each other
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Effective date is October 1, 2025
Legislative Description
To Provide For A Sales And Use Tax Refund For A Speculative Development Project; And To Require Concurrent Financial Incentive Agreements Under The Consolidated Incentive Act Of 2003.
Last Action
Died in Senate Committee at Sine Die adjournment.
5/5/2025