3.0.0 914 2023-01-11T19:45:48Z 2023-01-11T19:45:48Z Senate S S 2007-03-19 110 ssfi00 Finance Committee Senate Standing Referred to 2007-03-19T19:59:42Z 2007-03-19 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-03-19 Introduced in Senate IntroReferral 10000 9 Library of Congress V000126 Sen. Voinovich, George V. [R-OH] GEORGE VOINOVICH R OH V. N M000355 Sen. McConnell, Mitch [R-KY] Mitch McConnell R KY 2007-03-19 True A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN 2007-03-19 True B000611 Sen. Bond, Christopher S. [R-MO] CHRISTOPHER BOND R MO S. 2007-03-19 True B001135 Sen. Burr, Richard [R-NC] Richard Burr R NC Mauze 2007-03-19 True S001142 Sen. Smith, Gordon H. [R-OR] GORDON SMITH R OR H. 2007-03-19 True L000447 Sen. Lott, Trent [R-MS] CHESTER LOTT R MS TRENT 2007-03-21 False B001066 Sen. Bunning, Jim [R-KY] JIM BUNNING R KY 2007-03-26 False Taxation Commerce Economic development Economics and Public Finance Government Operations and Politics Income tax Intergovernmental tax relations Interstate commerce Job creation Labor and Employment State taxation Tax incentives Taxation

00 2007-03-19 Introduced in Senate 2007-04-13T18:32:20Z Economic Development Act of 2007 - Authorizes any state to provide to any person for economic development purposes tax incentives that otherwise would be the cause or source of discrimination against interstate commerce under the Commerce Clause of the Constitution. Disqualifies any incentive that: (1) is dependent upon the state or country of incorporation, commercial domicile, or residence of an individual; (2) requires the recipient to acquire, lease, license, use, or provide services to property created in the state; (3) is reduced or eliminated as a result of an increase in out-of-state activity by the recipient or other person or as a result of such other person not having a taxable presence in the state; (4) results in loss of a compensating tax system, because the tax on interstate commerce exceeds the tax on intrastate commerce; (5) requires that other taxing jurisdictions offer reciprocal tax benefits; or (6) requires that a tax incentive earned with respect to one tax can only be used to reduce a tax burden for, or provide a tax benefit against, any other tax that is not imposed on apportioned interstate activities.

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Official Title as Introduced Introduced in Senate IS Display Title Short Titles as Introduced Introduced in Senate 2007-03-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s914is/xml/BILLS-110s914is.xml 2007-03-19 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.