Relating to tax exemptions for business development; prescribing an effective date.

Modifies provisions governing a corporate excise tax exemption allowed for business firms operating in certain economically lagging areas. Makes changes to the program requirements, including methods of calculating employee wages in support of showing of applicant eligibility. First applies to preliminary certifications and annual certifications issued on or after the effective date of the Act. Takes effect on the 91st day following adjournment sine die.