The proposed bill, if enacted, would amend current statutes regarding the Credit for Qualified Facilities by introducing a new option for the credit amount. Specifically, it would allow for a credit of $250,000 for each net new full-time employment position created in a rural location, provided that the total qualifying investment is less than $2 billion. This new provision would be added alongside existing options for the credit, which currently include different amounts based on the total qualifying investment.

Additionally, the bill would make technical changes to the language of the current statutes, including the removal of outdated phrases and clarifying definitions. The changes would take effect on January 1, 2027, and would apply to taxable years beginning after December 31, 2026. Overall, the bill aims to enhance incentives for job creation in rural areas by expanding the available tax credits for qualified facilities.

Statutes affected:
Introduced Version: 43-1083.03, 43-1164.04, 41-1512, 42-2003, 32-725, 43-105, 42-1118, 42-1122, 42-1108, 43-1074
House Engrossed Version: 43-1083.03, 43-1164.04, 41-1512, 42-2003, 32-725, 43-105, 42-1118, 42-1122, 42-1108, 43-1074