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Bills · 2021-2022 Regular Session

SB 1101

Died at session end Official bill text Atom feed

Relating to: a pediatric cancer research tax credit. (FE)

Disease Franchise — Taxation Hospitals and health care facilities 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 and franchise tax credit for contributions made by

a business entity to a pediatric cancer research institution. The bill requires the

institution to use the contribution exclusively and directly for pediatric cancer

research and defines a “pediatric cancer research institution” as a hospital located

in this state that is actively conducting pediatric cancer research, as certified by the

secretary of health services.

Under the bill, the maximum amount of the credit that an entity may claim in

any taxable year is $2,500,000. If the amount of the credit exceeds the entity's tax

liability, the entity does not receive a refund, but, instead, may claim the remaining,

unused credit against the entity's tax liability in subsequent years.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Jacque (R)

Full history

  1. Mar 10, 2022 · Senate

    Introduced by Senator Jacque

  2. Mar 10, 2022 · Senate

    Read first time and referred to Committee on Human Services, Children and Families

  3. Mar 15, 2022 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1

  4. Mar 24, 2022 · Senate

    Fiscal estimate received