BILL · 2007–08 SESSION
HB 3174: Community development
Providing incentives for financial institutions to encourage investment in qualified community development entities.
Summary
- Creates the Washington State New Markets Development (NMD) Program, which allows a tax credit against the business and occupation tax for qualified investments benefitting low-income community businesses, up to $15 million in total NMD Program tax credits in a fiscal year.
From the House Bill Report (HB 3174), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not pass Did not pass · died in committee
- IntroducedJan 23, 2008
- Out of committeestopped here
- Passed House
- Passed Senate
- Governor
- Law
- Prime sponsor
- Steve Kirby (D-29)
- Introduced
- January 23, 2008 in the House
- Last action
- February 5, 2008
- Budget
- Has a fiscal note
AN ACT Relating to incentives for financial institutions to encourage investment in qualified community development entities;
Sponsors
Prime sponsor: Steve Kirby (D-29)
17 co-sponsors (12 Democrats, 5 Republicans)
Votes
No recorded floor votes. This measure never reached a floor vote.
History
- Referred to Finance.
- IFCP - Executive action taken by committee.
- IFCP - Majority; do pass.
- First reading, referred to Insurance, Financial Services & Consumer Protection.
HB 3174 in other sessions
Bill numbers restart every two years, so the same number is a different bill in each session.
- HB 3174 (2009–10) State treasurer/funds, accts
- HB 3174 (2005–06) Life sciences grants
- HB 3174 (2003–04) LEOFFRS medical account
- HB 3174 (1999–00) Basic health care insurance