Committee tables bill to exempt digital and securities services from gross revenue tax pending agency review

The House Committee on Ways and Means agreed to table House Bill 24-58 after members said key agencies and advisory groups had not submitted comments. Representative Angelo, the bill author, described the measure as an incentive to attract businesses in the global digital economy, including remote services, consulting, subscription platforms and certain manufacturing activity.

Why it matters: The bill would alter the scope of the gross revenue tax by exempting some services and securities transactions; proponents argue the change could attract remote tech and finance firms. Members asked for written input from economic and industry stakeholders before proceeding.

What happened in committee: Representative Angelo said the draft revises language to clarify that revenue derived from exported goods or services "manufactured or originating in the Commonwealth" would be eligible for relief and that the change is intended to make the CNMI more attractive to certain industries. Representative Marissa Flores said the committee had not yet received commentary from the Department of Commerce, the governor's economic council, the workforce or other technical advisors and recommended additional review. The committee agreed, without objection, to table the bill pending further comments and outreach to the solicited agencies.

Next steps: Committee staff will await agency responses; members indicated they expect additional technical input — particularly from commerce and the governor's economic advisory council — before taking further action.