Governor Charles D. Baker's Budget Recommendation - House 1 Fiscal Year 2016

Search for line item

Go

1.603 -EDIP/Economic Development Incentive Program Credit


Item DescriptionFY2012 FY2013 FY2014 FY2015 FY2016
1.603 EDIP/Economic Development Incentive Program Credit
Under the provisions of the Economic Development Incentive Program (EDIP) established pursuant to M.G.L. Ch. 23A, the Economic Assistance Coordination Council (EACC) may authorize taxpayers participating in certified projects to claim tax credits. Businesses investing in qualified property in an Economic Opportunity Area are entitled to a tax credit against the cost of the property. The EDIP credit provisions have been expanded to include "certified job creation projects" To qualify for the credit, the property must be used exclusively in a certified project in an Economic Opportunity Area. To be certified, the Economic Assistance Coordinating Council must approve a project, subject to a cap; see item # 2.605 for more details. Credit is not transferable, but is refundable for specified project types.

Origin:  M.G.L. c. 62, S. 6(g)
Estimate:  $3.7
2.8 2.8 3.7 3.7 3.7

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.


top of page link top of page