Because the limit is anticipated to be reached this present year, lawmakers in Augusta are now actually considering a bill to increase that limit, enhancing the price of this system in income tax credits to $195 million as well as the total investment limit to $500 million.
The logic that is underlying the federal and state programs is the fact that upfront price of the income tax credits to taxpayers will result in increased economic activity, which over time will create sufficient new state or federal income tax revenue to sooner or later meet or exceed the initial price of the taxation credits. Read more
