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Committee hears extension request for brownfield exemption, opens cargo‑container exemption hearing
Summary
The House Committee on Revenue opened hearings Feb. 6 on two property‑tax exemption sunsets: House Bill 2,075 to extend the brownfield development property tax exemption to 2023 and House Bill 2,076 on cargo‑container exemptions. Local government and redevelopment advocates urged extension while LRO said the exemption's fiscal impact is small.
The House Committee on Revenue opened public hearings Feb. 6 on House Bill 2,075, which would extend the sunset for a property‑tax exemption used by local governments for brownfield redevelopment, and on House Bill 2,076, which would extend the cargo‑container property tax exemption. The Legislative Revenue Office gave a brief overview focused on the brownfield exemption; witnesses from local government and redevelopment organizations urged the committee to preserve the tool.
What the Legislative Revenue Office reported
Beau Olen of the Legislative Revenue Office told the committee that HB 2,075 extends the brownfield exemption sunset from Jan. 1,…
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