HB1868 Summary

• Modifies enterprise zone qualification criteria to use American Community Survey data instead of federal decennial census data for poverty and child nutrition assistance metrics.

• Adds provisional certification process for enterprise zone applications and provisional decertification for zones failing to file reports or report job creation/capital investment for 3 consecutive years.

• Establishes 5-year advance application window for enterprise zones expiring on or after January 1, 2023, allowing either the previous designee or new applicants to compete for redesi­gnation with no preference given.

• Updates reporting requirements to include poverty metrics (35% of families with children below 130% of poverty line), food assistance data, and employment statistics for enterprise zone and High Impact Business tax benefit recipients.

• Creates Enterprise Zone construction jobs credit allowing businesses making $10,000,000+ capital investments in certified zones to receive 50-75% tax credits on incremental income tax from construction workers, with $20,000,000 annual aggregate cap.