2015 Session

Budget Amendments - HB1400 (Committee Approved)

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Eliminate Proposal Capping Coalfield Employment Enhancement Tax Credit (language only)

Item 3-5.16 #1h

Item 3-5.16 #1h

Adjustments and Modifications to Tax Collections
Coalfield Employment Enhancement Tax Credit

Page 517, line 17, after "§ 3-5.16"  strike the remainder of the line and insert "Omitted."
Page 517, strike lines 18 through 21.

(This amendment eliminates a proposal contained in House Bill 1400 that would cap the Coalfield Employment Enhancement Tax Credit at $500,000 per return. The "Front Page" revenues contained in the budget assumed reduced costs from the credit of $14.7 million based on this proposal. That amount would be offset by other budgetary savings to support this change. A companion amendment to Item 120 eliminates a proposed appropriation of $1.2 million to the Coalfield Economic Development Authority that was intended to offset lost revenues to that Authority.)