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Article: Committee passes income tax credit measure
- Article from:
- THE JOURNAL RECORD
- Article date:
- March 23, 2000
- Author:
CopyrightCopyright 2000 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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A planned $240 million, 150-employee expansion of Kimberly-Clark
in Tulsa will be aided by income tax credits if a bill approved by
the House Revenue and Taxation Committee on Wednesday makes it into
law.
Senate Bill 1300, by Sen. Ted Fisher, D-Sapulpa, and Rep. Russ
Roach, D-Tulsa, expands state law providing income tax credits for
new or expanding industries to include companies who invest more than
$200 million over a three-year period. Construction must have
commenced on or after Jan. 1 of this year. The bill increases the
carry-forward period for unused tax credits from five to 15 years.
Another part of the bill extends a five-year ad valorem exemption
to new plants or expansions on ...