creating an off-site infrastructure improvement tax credit for the value of qualified off-site infrastructure improvements constructed or funded by business organizations that directly benefit the public.

Summary

The bill adds a credit against the Business Profits Tax for the value of off‑site infrastructure projects that private companies construct or fund and that directly benefit the public. The credit is limited to the company’s tax liability and can be carried forward for up to 20 years. It is intended to encourage private investment in infrastructure that would otherwise be paid for by municipalities.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share