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Introduced House Bill (H)

DIGEST

Industrial recovery tax credit. Provides that a taxpayer is entitled each taxable year beginning after December 31, 2019, to an industrial recovery tax credit against the taxpayer's state tax liability for a qualified investment in a qualified community development entity. Provides that the credit is equal to 25% of the taxpayer's qualified investment in a qualified community development entity made during the taxable year. Industrial recovery tax credit. Provides that a taxpayer is entitled each taxable year beginning after December 31, 2019, to an industrial recovery tax credit against the taxpayer's state tax liability for a qualified investment in a qualified community development entity. Provides that the credit is equal to 25% of the taxpayer's qualified investment in a qualified community development entity made during the taxable year.