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Senate passes surtax on large nonresidential construction, adopts floor amendments to split revenue among districts
Summary
On Jan. 3, 2025, the Senate passed House Bill 23-120 HD1 SS1 as amended, imposing a 3% surtax on gross revenues from nonresidential construction projects costing $350,000 or more and changing how revenue is apportioned among senatorial districts. The measure passed the Senate by a 7–1 vote.
The Senate passed House Bill 23-120 HD1 SS1 as amended on Jan. 3, 2025, adopting a 3% surtax on gross revenues derived from nonresidential construction projects that cost $350,000 or more. The motion to pass the bill as amended carried on a 7–1 vote in the Senate.
The bill reached the floor after the Committee on Fiscal Affairs reported on House Bill 23-120 in standing committee report 23-122. On the floor, Senator Donna Manglona offered a multi-part floor amendment that changed the distribution of revenues from the special gross revenues from qualifying construction projects (GRQCP) account. As stated on the record, the amendment would: (1) appropriate 2.5% each to the first and second senatorial districts to the municipal department of finance under the expenditure authority of the…
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