Bill > S3305

Introduced Session

This bill allows a gross income tax credit for nonresidential building improvement expenses to reduce the spread of COVID-19. The credit will be allowed for expenditures made during taxable years 2020, 2021, and 2022. The following expenditures will be includable in calculation of the credit: expenditures for (1) bi-polar ionization and ultraviolet lighting to disinfect indoor air and surfaces, including in elevators and work areas; (2) infrared thermometers for screening visitors in common areas; (3) transparent sneeze guards or shields; (4) touchless entryway and security; (5) ventilation; and (6) other equipment to reduce the spread of COVID-19 and necessary to create a safe environment for employers and employees to return to their work spaces. The amount of credit allowed will be equal to: 75 percent of the taxpayer's expenditures for a work space of less than 30,000 square feet, but the credit for such expenditures cannot exceed $100,000; and 50 percent of the taxpayer's expenditures for a work space of 30,000 square feet or more, but the credit for such expenditures cannot exceed $250,000.

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Steven Oroho (R)*,  Bob Smith (D)*,  Jim Holzapfel (R),  Declan O'Scanlon (R),  Troy Singleton (D), 

Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee (on 03/08/2021)

Official Document