Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

1.603 -EDIP/Economic Development Incentive Program Credit

Item DescriptionFY2012 FY2013 FY2014
1.603 EDIP/Economic Development Incentive Program Credit
Businesses investing in qualified property in an Economic Opportunity Area are entitled to a credit against tax of 5% of the cost of the property. To qualify for the 5% credit, the property must be used exclusively in a certified project in an Economic Opportunity Area. To be certified, the Economic Assistance Coordinating Council must approve a project. See item # 2.605. Credit is not transferable, but is refundable for specified project types.

Origin:  M.G.L. c. 62, S. 6(g)
Estimate:  $2.8
2.9 2.8 2.8


IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.

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