1.603 -EDIP/Economic Development Incentive Program Credit
| Item | Description | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|---|---|---|---|---|---|
| 1.603 | EDIP/Economic Development Incentive Program Credit
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. See item # 2.605. Credit is not transferable, but is refundable for specified project types. Origin: M.G.L. c. 62, S. 6(g) Estimate: $3.0 |
2 | 2.8 | 3 | 3 | 3 |
Key:
| ORIGIN | |
| IRC | Federal 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. |
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