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Bills · 2013-2014 Regular Session

SB 624

Died at session end Official bill text Atom feed

Relating to: an income tax credit for the moving expenses paid by a business relocating to this state. (FE)

Business Corporation — Taxation Income tax — Credit

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill creates an income tax credit equal to 50 percent of the amount the

taxpayer paid as moving expenses to relocate the taxpayer's business to this state

from another state or another country. Only a sole proprietor, partner of a

partnership, member of a limited liability company, or shareholder of a tax-option

corporation may claim the credit. If the amount of the credit exceeds the taxpayer's

tax liability, the taxpayer does not receive a refund, but may claim the amount of any

unused credit in the ten taxable years following the taxable year in which the

taxpayer first filed a claim.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Harsdorf (R) , Schultz (R)

7 cosponsors

Bies (R) , Hulsey (D) , Murphy (R) , Petryk (R) , Pridemore (R) , T. Larson (R) , Thiesfeldt (R)

Full history

  1. Feb 20, 2014 · Senate

    Introduced by Senators Harsdorf and Schultz; cosponsored by Representatives Petryk, T. Larson, Bies, Murphy, Pridemore, Hulsey and Thiesfeldt

  2. Feb 20, 2014 · Senate

    Read first time and referred to Committee on Workforce Development, Forestry, Mining, and Revenue

  3. Mar 6, 2014 · Senate

    Fiscal estimate received

  4. Apr 8, 2014 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1