HF 946

FIRST ENGROSSMENT

International economic development zone and tax incentives provided, report required, and money appropriated.

Sec. 1: international economic development zone property tax exemptions provided.

Sec. 2: federal income tax deduction provided for international economic development zone income.

Sec. 3-4: taxable income exemption provided.

Sec. 5-8: international economic development zone job credity provided.

Sec. 9: alternative minimum taxable income exclusion provided.

Sec. 10-11: corporate and franchise tax exemption provided.

Sec. 12: international economic development zones tax exemptions provided.

Sec. 13: foreign trade and international economic development zone definitions provided.

Sec. 14: application for designation as international economic development zone provided.

Sec. 15: designation of international economic development zone provided.

Sec. 16: foreign trade zone authority powers provided.

Sec. 17: tax incentives in international economic development zones specified.

Sec. 18: individual income tax exemption provided.

Sec. 19: corporate franchise tax exemption provided.

Sec. 20: jobs credit provided.

Sec. 21: repayment of tax benefits required.

Sec. 22: reporting requirements provided.

CH 04-25-05