Relating to extension of enterprise zones; and prescribing an effective date.
Catchline/Summary:
Increases number of enterprise zones that may be designated and maximum area of rural enterprise zone. Increases number of enterprise zones that may be designated and maximum area of rural enterprise zone. Requires enterprise zones designated or expanded because of such increases to submit report to interim committee of Legislative Assembly related to revenue.Increases number of enterprise zones that may be designated for electronic commerce.]
Increases additional tax years during which qualified property in enterprise zone may be exempt from taxation.]
Specifies that prohibition against sponsor of terminated enterprise zone applying for new enterprise zone is for period not to exceed 10 years after zone is terminated.
Takes effect on 91st day following adjournment sine die.
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