HB 14-1014: Job Growth Incentive Tax Credit Modifications

• Extends the Job Growth Incentive Tax Credit program expiration date from January 1, 2020 to January 1, 2027, allowing the credit to continue through fiscal year 2026.

• Increases the credit period from 60 consecutive months to 96 consecutive months for projects commencing on or after January 1, 2014.

• Reduces wage requirements for projects starting on or after January 1, 2014 from 110 percent to 100 percent of the county's average yearly wage; reduces enhanced rural enterprise zone wage requirement from 110 percent to 100 percent.

• Changes approval criteria from "project would not occur without the credit" to "credit is a major factor in the decision to locate or retain the project" for income tax years beginning on or after January 1, 2014.

• Decreases the controlled maintenance trust fund general fund appropriation by $23,226 for fiscal year 2014-2015 and delays the overall program repeal date from January 1, 2030 to January 1, 2031.