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IN SB0382

Bill

Official Source

Status

Introduced

1/11/2011

Primary Sponsor

Ed Charbonneau

Click for details

Origin

Senate

2011 Regular Session

AI Summary

  • Reduces the minimum square footage requirement for a vacant industrial facility to qualify for industrial recovery tax credit designation from 250,000 square feet to 25,000 square feet
  • Facilities must still meet existing requirements: placed in service at least 20 years ago and vacant for 2 or more years (vacancy requirement waived for municipal or county-owned properties)
  • Applies to applications for industrial recovery site designation filed after December 31, 2011
  • Effective date of January 1, 2012, with the applicability provision expiring January 1, 2014

Legislative Description

Industrial recovery tax credit.

Last Action

First reading: referred to Committee on Tax and Fiscal Policy

1/11/2011

Full Bill Text

No bill text available