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2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Chafin
Made in Appalachia Initiative Tax Credit (language only)

Item 0 #4s

Item 0 #4s

Revenues
Revenues

Language

Page 1, strike lines 44 through 45, and insert:                            

                

"Official Revenue Estimates

$18,902,391,274

$19,633,121,954

$38,535,513,228

$18,557,385,985

$19,118,521,677

$37,675,907,662"

Page 2, strike lines 1 through 2, and insert:                                

                

"Appropriation                          

$20,426,382,313

$20,229,404,911

$40,655,787,224

$20,183,840,254

$20,128,395,210

$40,312,235,464"



Explanation

(This amendment accompanies Senate Bill 1106 which proposes to establish the Made in Appalachia Initiative tax credit. Beginning with tax year 2017, the bill would create a refundable tax credit for capital investment and job creation in the Cumberland Plateau, LENOWISCO, and Mount Rogers Planning Districts. This amendment assumes a GF revenue reduction of $40 million in FY 2018.)