HB1102 increases the cap on research and development tax credits and modifies state park fees for residents.
HB1102 amends the business profits tax credit cap, raising it from $7,000,000 to $10,000,000 annually. It also adjusts the maximum credit amount for individual businesses from $50,000 to $100,000. Additionally, the bill changes state park fees for residents, limiting them to 50% of nonresident fees for general park entry and 90% for specific services like camping or rentals. Residency can be verified through various state-issued documents. The tax credit changes take effect January 1, 2028, while the park fee modifications begin July 1, 2027.
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