HB1241
Income tax, state; modifications for certain companies in economically distressed localities.
Summary
As Introduced. Income tax modifications for certain companies in economically distressed localities.
Adds the City of Portsmouth to the list of economically distressed localities in which a company may invest to become eligible for certain income tax modifications. Under current law, a company is eligible for such modifications if, among other things, it either (i) invests at least $5 million in new ... (More) capital investment in a qualified locality and creates at least 10 jobs paying at least 150 percent of the minimum wage in a qualified locality or (ii) creates at least 50 jobs paying at least 150 percent of the minimum wage in a qualified locality. (Less)-
Bill History
- 01/08/2020 - House: Prefiled and ordered printed; offered 01/08/20 20103381D
- 01/08/2020 - House: Referred to Committee on Finance
- 01/16/2020 - House: Assigned Finance sub: Subcommittee #1
- 01/18/2020 - House: Impact statement from TAX (HB1241)
- 01/20/2020 - House: Subcommittee failed to recommend reporting (3-Y 5-N)
- 02/11/2020 - House: Left in Finance