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    CS/CS/SB 1264: Rural and Urban Business Enterprises

    GENERAL BILL by Appropriations Committee on Transportation, Tourism, and Economic Development, Commerce and Tourism, Collins

    Rural and Urban Business Enterprises; Revising the purpose of the Department of Commerce; deleting the definition of the term “minority business enterprise”; establishing the Research, Innovation, Science, and Engineering (RISE) Investment Tax Credit Program within the Department of Commerce; requiring the department to authorize the Department of Revenue to issue tax credits to a qualifying private fund if certain requirements are met; requiring the department to issue a notice of revocation and recapture to the qualifying private fund and the Department of Revenue, etc.

    Effective Date: 7/1/2025

    Last Action: 6/16/2025 Senate - Died in Rules

    Bill Text [pdf]

    Current Bill Version Posted: 4/17/2025 10:43 AM


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    • Committee Amendments (1)

      Links in this section are PDF documents.

      283376 - Amendment (Delete All) by Rules (Collins)
      Delete everything after the enacting clause and insert:
      Filed: 4/18/2025 1:36 PM
      Last Action: 1/1/0001

    • Floor Amendments (1)

      Links in this section are PDF documents.

      283376 - Amendment (Delete All) by Rules (Collins)
      Delete everything after the enacting clause and insert:
      Filed: 4/18/2025 1:36 PM
      Last Action: 1/1/0001 Senate:

    • Bill History

      S = Senate, H = House

      2/25/2025 S • Filed
      3/3/2025 S • Referred to Commerce and Tourism; Finance and Tax; Appropriations Committee on Transportation, Tourism, and Economic Development; Rules
      3/4/2025 S • Introduced
      3/26/2025 S • On Committee agenda-- Commerce and Tourism, 03/31/25, 1:30 pm, 110 Senate Building
      3/31/2025 S • CS by Commerce and Tourism; YEAS 7 NAYS 2
      4/2/2025 S • Pending reference review under Rule 4.7(2) - (Committee Substitute)
      • CS by Commerce and Tourism read 1st time
      4/3/2025 S • Original reference(s) removed: Finance and Tax
      • Remaining references corrected to Appropriations Committee on Transportation, Tourism, and Economic Development; Rules
      • Now in Appropriations Committee on Transportation, Tourism, and Economic Development
      4/10/2025 S • On Committee agenda-- Appropriations Committee on Transportation, Tourism, and Economic Development, 04/15/25, 8:30 am, 110 Senate Building
      4/15/2025 S • CS/CS by Appropriations Committee on Transportation, Tourism, and Economic Development; YEAS 13 NAYS 2
      4/17/2025 S • Pending reference review under Rule 4.7(2) - (Committee Substitute)
      • Now in Rules
      • On Committee agenda-- Rules, 04/21/25, 2:00 pm, 412 Knott Building --Temporarily Postponed
      4/22/2025 S • CS/CS by Appropriations Committee on Transportation, Tourism, and Economic Development read 1st time
      5/3/2025 S • Indefinitely postponed and withdrawn from consideration
      6/16/2025 S • Died in Rules
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