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Committee adopts substitute to alter business-filing fees and make veteran franchise-tax exemption permanent
Summary
The committee unanimously adopted a committee substitute to House Bill 346 that removes a large fiscal note, grants the Secretary of State authority over expedited filing fees, and makes permanent a five‑year franchise tax exemption for new veteran‑owned businesses, according to sponsors and resource witnesses.
The Senate Economic Development Committee adopted a committee substitute on House Bill 346 that revises the bill’s approach to business licensing and filing fees and extends tax relief for veteran‑owned startups.
Senator King, the bill’s senate sponsor, said the substitute “is essentially completely new language and removes any fiscal note.” He told the committee the substitute gives the Secretary of…
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