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Committee advances bill offering tax credits to spur rail‑served industrial development
Summary
Senate File 16‑66 would provide a 10% tax credit for businesses locating adjacent to Class II/III railroads and a 50% credit for new rail spurs; committee passed the bill and referred it to state and local government.
The Senate Jobs and Economic Development Committee approved Senate File 16‑66, a measure to create tax credits aimed at encouraging businesses to locate adjacent to Class II and Class III railroads and to offset initial rail‑infrastructure costs for industrial connections.
Sen. Scott Weber, the bill’s sponsor, described two principal components: a 10 percent tax credit for businesses that locate or expand adjacent to qualifying short‑line railroads, and a separate 50 percent credit for qualified initial infrastructure expenditures (new…
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