Committee moves bill expanding revitalization tax
By Darryl R. Isherwood | November 15th, 2012 - 1:48pmThe pool of money available under the neighborhood revitalization tax program would expand from $10 million to $15 million under a bill moved by the Senate Community and Urban Affairs committee Thursday.
The bill, (S2245), also would expand the program to include gross income tax payers.
Currently, the program provides a dollar for dollar tax credit to any corporation that donates money to a non-profit for use in a neighborhood revitalization project. The maximum credit available is $1 million per calendar year.
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