Income tax, state; modifications for certain companies in economically distressed localities.

Income tax modifications for certain companiesin economically distressed localities. Adds the City of Portsmouthto the list of economically distressed localities in which a companymay invest to become eligible for certain income tax modifications.Under current law, a company is eligible for such modifications if,among other things, it either (i) invests at least $5 million innew capital investment in a qualified locality and creates at least10 jobs paying at least 150 percent of the minimum wage in a qualifiedlocality or (ii) creates at least 50 jobs paying at least 150 percent of the minimum wage in a qualified locality.