2.605 -Economic Opportunity Area Credit (EOAC)

Item	Description	FY2009	FY2010	FY2011
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: $14.6	14	14.1	14.6

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.