2010 Session

Budget Amendments - SB30 (Conference Report)

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Adjust Qualified Equity Subordinate Debt Credit (language only)

Item 3-5.01 #1c

Item 3-5.01 #1c

Adjustments and Modifications to Tax Collections
Qualified Equity and Subordinated Debt Investment Tax Credit

Page 379, line 30, strike "thereafter." and insert:
"thereafter, except that for taxable years beginning on and after January 1, 2010, and before December 31, 2010, the credit shall be limited to $5,000,000."

(This amendment eliminates the limit on the annual cap for calendar year 2010 only so that the statutory cap of $5.0 million will apply. This is a component of the Governor's jobs creation plan.)