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HB 73, Rural Downtown Tax Credit

Municipal Impact Position Contact
Support Joel Wiggins, (678) 686-6270

Last Updated: 2/10/2017
Subject Area: Economic Development and Redevelopment | Taxation |
Resources: bill text
HB 73 would create revitalization zones at the discretion of the Commissioner of DCA and Economic Development for which existing businesses and developers can receive tax credits for qualified projects. To be eligible for Revitalization Zone (RZ) status, the local government must have a population of fewer than 15,000 residents, and prove economic distress. Economic distress is defined by having a concentration of historic commercial structures within the targeted area, a feasibility study which can be supported in the targeted area, and a master plan designed to assist private and public investment.

Any business that establishes a new location or expands its operations in the RZ on or after January 1, 2018 and creates at least 2 full time equivalent jobs will be eligible for a tax credit of $2,000 per full time job created with a maximum of $40,000 per taxable year. Any investor who develops a property inside the RZ will receive a tax credit of 25% of the investment property purchase price, not to exceed $125,000 as long as an eligible business is located in the property and maintains at least two full time jobs.

Both an investor and an existing business can get a rehabilitation tax credit for 50% of the qualified expenditures, not to exceed $75,000. All tax credits are for 5 year periods, and the investor and rehab credits have to be prorated over the 5 year period. 


3/28/2017 House Vote #363 Yea - 155 Nay - 4 Not Voting - 7 Excused - 14
3/28/2017 Senate Vote #270 Yea - 49 Nay - 4 Not Voting - 2 Excused - 0
2/16/2017 House Vote #59 Yea - 158 Nay - 3 Not Voting - 10 Excused - 9

5/8/2017 - Effective Date

5/8/2017 - Act 205

5/8/2017 - Date Signed by Governor


Rep. Penny Houston
District 170
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