Senate increases investment thresholds for resort tourism rebate program
Summary
A committee substitute to raise qualifying investment thresholds for a tourism rebate program and reduce the allowable share of private investment that can be spent on retail passed the Senate by morning roll call.
The Senate approved a committee substitute Monday that raises the private-investment thresholds to qualify for a state tourism rebate program aimed at hotels and resort developments.
Senator Johnson told the chamber the substitute increases required private investment amounts and added a reverse repeal. He described the definition of “resort development” as a travel-destination project with a hotel of at least 200 rooms and a private-investment minimum tied to the number of rooms. The substitute also lowers the share of private investment that may be used for retail from 40% to 30%, directing more of the investment toward hospitality and guest amenities.
Senator Hill asked for a definition read from the bill and confirmed the bill tightens the retail share test so projects are less reliant on retail space. Johnson said the change is intended to ensure that the bulk of the required investment goes toward hotel operations and amenities rather than retail.
The committee substitute was adopted on the floor and the bill was carried forward for final passage by morning roll call; the transcript records the bill passed by that procedure.
Why it matters: the change raises the financial thresholds projects must meet to access the rebate program; by reducing the permissible retail component it encourages projects to emphasize lodging and guest amenities.
Actions: committee substitute adopted; bill passed by use of morning roll call.
Speakers listed for this item: Senator Johnson (explainer), Senator Hill (questioner), Senator McMahon (floor remarks).
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