HI HB797

Extends the deadline for claiming the high technology business investment tax credit and technology infrastructure renovation tax credit from taxable years ending before January 1, 2011 to taxable years ending before January 1, 2013.

Maintains the existing limitation that tax credits cannot exceed 80 percent of a taxpayer's tax liability for the taxable year in which the credit is claimed.

Prohibits any tax credits claimed under this provision from resulting in credit carryovers.

Applies to taxable years beginning after December 31, 2010.

Enacted to address the fiscal crisis for fiscal biennium 2011-2013 by reducing state revenue losses, with saved revenues designated for public health, safety, or education programs.