Senate Roll Call 382 on2021 House Bill 4712: Retroactively authorize higher cash subsidies for particular developer
View the rest of House Bill 4712: History, Amendments & Comments
To retroactively make a particular developer’s project eligible for increased “refundable” state business tax credits under a suspended program that authorized actual cash payments from the state treasury to a relative handful of companies and developers approved by state officials. The bill would allow the particular developer to "shuffle" the credits/subsidies he was granted between two separate projects in a way that maximizes how much is collected.
The bill would also increase the total subsidies the developer will receive, and allow another five years to complete the project. The House Fiscal Agency estimates this will result in a $12.8 million increase in either foregone state revenue, or in actual cash disbursements to this developer.
SENATE LEGISLATORS ORDERED BY NAME
Senate Roll Call 382 on 2021 House Bill 4712