Bills › 88th General Assembly
HSB 649
Where it is now
- Done: IntroducedFebruary 6, 2020
- Done: SubcommitteeFebruary 6, 2020
- Stopped: House committeeDied when the General Assembly ended
- Next: Passes the House
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2020 session adjourned on June 14, 2020, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
This bill creates a recreational-activities business tax credit available for individual and corporate income taxes. The credit is available to a taxpayer that operates a business that offers recreational activities that started after the effective date of the bill, or is an existing business that offers recreational business activities that started less than one year prior to the effective date of the bill. “Recreational-activities business” is defined to mean a business that is directly and primarily engaged in recreational activities, including bowling, go-karts, mini-golf, laser tag, bumper cars, bumper boats, escape rooms, or waterslides.
Read the full explanation
_____ The amount of the credit is not to exceed $2,500 of start-up expenses against the individual or corporate income tax. A taxpayer is eligible to claim the credit one time as provided in the bill in the taxpayer’s lifetime. Any credit provided in the bill in excess of the tax liability is not refundable but the excess for the tax year may be credited to the tax liability for the following five years until depleted, whichever is earlier. The bill takes effect upon enactment and applies retroactively to tax years beginning on or after January 1, 2020.
House subcommittee
Named February 6, 2020. Meeting: Tuesday, February 11 · 11:00 AM · House Lounge.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part