Economic Development Act of 2005

Summary

Economic Development Act of 2005 - Authorizes any State to provide to any person for economic development purposes tax incentives that otherwise would be the cause of discrimination against interstate commerce under the Commerce Clause of the Constitution. Makes exceptions for any incentive that: (1) is dependent upon 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 18 May 2005

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5445-5446)

   Source: IntroReferral

2. 18 May 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S5443-5445)

   Source: IntroReferral

3. 18 May 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 May 2005 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 May 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 May 2005

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 18 May 2005

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Voinovich, George V. [R-OH] · R · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Sponsor
• Sen. Bunning, Jim [R-KY] · R · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Alexander, Lamar [R-TN] · R · Sponsor
• Sen. DeWine, Mike [R-OH] · R · Sponsor
• Sen. McConnell, Mitch [R-KY] · R · Sponsor
• Sen. Frist, William H. [R-TN] · R · Sponsor
• Sen. Bond, Christopher S. [R-MO] · R · Cosponsor
• Sen. Talent, Jim [R-MO] · R · Cosponsor
• Sen. Smith, Gordon H. [R-OR] · R · Cosponsor
• Sen. Isakson, Johnny [R-GA] · R · Cosponsor
• Sen. Hagel, Chuck [R-NE] · R · Cosponsor
• Sen. Bayh, Evan [D-IN] · D · Cosponsor
• Sen. Burr, Richard [R-NC] · R · Cosponsor
• Sen. Lott, Trent [R-MS] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Economic Development Act of 2005