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2.605 -Economic Opportunity Area Credit (EOAC)
| Item | Description | FY2008 | FY2009 | FY2010 |
|---|---|---|---|---|
| 2.605 | Economic Opportunity Area Credit (EOAC)
Businesses investing in qualified property in an Economic Opportunity Area are entitled to a credit against tax of 5% of the cost of the property. To qualify for the 5% 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. Origin: M.G.L. c. 63, S. 38N Estimate: $20.0 |
21.8 | 20.7 | 20 |
Key:
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| M.G.L. | Massachusetts General Laws |
| U.S.C | United States Code |
| ESTIMATES | All estimates are in $ millions. |
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