2015 Regular Session
|At the request of:|
|Bill Title:||Relating to university venture development funds; prescribing an effective date.|
Extends sunset for tax credit for university venture development fund contributions.
Provides that tax credit is to be claimed in one tax year and provides for carryforward of unused amount of credit. Increases amount of credit allowed to taxpayer. Increases amount of total outstanding contributions and corresponding tax credit certificates allowed. Requires universities with university venture development funds to achieve annual agreement for allocation of available contribution amount. Transfers annual reporting requirements from participating universities to Higher Education Coordinating Commission. Applies to tax years beginning on or after January 1, 2016. Takes effect on 91st day following adjournment sine die.
|Fiscal Impact:||Has Minimal Fiscal Impact|
|Revenue Impact:||Revenue Impact Issued|
|Measure Analysis:||Staff Measure Summary / Impact Statements|
|Current Location:||In House Committee|
|Current Committee:||Joint Committee On Tax Credits|
|Potential Conflicts of Interest/Vote Explanations:||Potential Conflicts of Interest/Vote Explanation Documents|