Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate committee backs economic development bill, expands downtown tax credit and funds small‑business supports
Summary
The committee voted to report the package (referred to as S.122 in committee discussion) that raises the annual downtown tax credit cap from $3 million to $5 million and includes multiple appropriations to small‑business and arts programs; members requested fiscal updates before final floor consideration.
The Senate Finance Committee voted to report favorably a multi‑section economic and workforce development bill that includes a permanent increase to the downtown tax credit cap and several appropriations intended to expand small‑business supports.
Committee members discussed a provision that raises the annual downtown tax credit cap from $3,000,000 to $5,000,000, a change supporters said has produced a high return on state investment (committee discussion cited a 17:1 leveraging ratio). The committee heard that the credit has historically had more applicants than available funding and that many districts…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
