February 13, 2012

The House Revenue and Taxation Committee heard two items this morning, the first being HB488 which would provide a tax credit to Sun Valley Adaptive Sports for Veterans rehabilitation services.  There was a lengthy presentation on the bill, following by a number of questions from the committee.  This bill was sent to general orders in the House to make changes and as stated by the maker of the motion, Representative Roberts, it will be placed on general orders to move the language of the bill to the proper section of tax code.

The committee then had up for consideration an RS as part of the Democrats 6-part proposal for job creation.  This RS would allow for a “finders fee” to a business that brought in another business to the state.  It would be a $1,000 credit, split between the two companies in the form of a tax credit with a $3 million limit on the program.  There was an original motion to print the RS, however a substitute motion was made to return the RS to the sponsor which did pass.  This particular RS did not pass, and will not return for any further hearings.

The House Revenue and Taxation Committee will not hold a hearing tomorrow morning, but will meet back up on Wednesday morning or this week.