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Senate Bill 0272


Senate Bill 0272

ARCHIVE (2012)

Latest Information

 

DIGEST OF INTRODUCED BILL


Certified technology parks. Provides that the department of state revenue may adjust the sales tax base period amount or the income tax base period amount of a certified technology park if an error was made in the computation of the sales tax base period amount or the income tax base period amount. Provides that a change in the sales tax incremental amount or the income tax incremental amount resulting from an adjustment in the sales base period amount or the income tax base period amount is retroactive to the later of: (1) the date on which the incorrect sales base period amount or income tax base period amount became effective; or (2) July 1 of the state fiscal year immediately preceding the state fiscal year in which a redevelopment commission submits a petition to the department of state revenue seeking a correction of the sales tax base period amount or the income tax base period amount.
    Current Status:
     In Committee - first House
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