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Committee advances broad development and tax package including TIF changes, tax treatment for cannabis-infused beverages, and income-tax increment options
Summary
House Bill 775, a broad development and tax bill that includes TIF adjustments, new incentives for tourism events, income-tax increment language, and taxation of hemp-derived cannabis-infused beverages, was advanced by the House Appropriations and Revenue Committee after adopting PHS 2 and a committee amendment.
House Bill 775, a multi-part tax and development measure, was reported out of the House Appropriations and Revenue Committee on Tuesday as amended by PHS 2 and a subsequent committee amendment. The substitute grew substantially during committee consideration and the final committee tally was 16 yes, 3 no and 1 pass.
Representative Jason Nemes (spelled in amendment materials as Nemes) sponsored the bill. He provided a section-by-section estimated impact memorandum to summarize the changes. Key provisions in the committee substitute include:
- Tax increment financing (TIF): Clarifies definitions and allows smaller development areas to be created within existing development areas in cities of the first class (the chair referenced the Yum TIF in Louisville as a potential use).
- Administrative changes: Requires certain brewers to file and pay electronically beginning July 1, 2026…
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