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House approves bill letting state blend incentive funds to recruit businesses; sponsor cites 3,449 jobs
Summary
HB131 permits the economic development office to blend two incentive funds (economic-development tax-increment fund and the Industrial Assistance Fund). Sponsors said the tool helped attract 3,449 jobs and roughly $62.65 million in net state revenue; the House approved the bill 58–8.
The House on Feb. 9 passed House Bill 131 to give the governor's Office of Economic Development greater flexibility in structuring post-performance incentives for businesses.
The bill allows the office to "blend a couple of funds," enabling both the economic-development tax-increment fund and the Industrial Assistance Fund to be…
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