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Senate rejects amendment to require strict standards in sales-tax-exemption review
Summary
Senator Peterson proposed requiring at least one beneficiary business to meet three of five economic standards before an exemption could remain; after prolonged floor debate, the Senate called for division and the President Pro Tem ruled the amendment failed and HB242 proceeded to third reading.
Senator Peterson offered an amendment to House Bill 242 on Feb. 7 that would require, when the Tax Review Commission evaluates a sales-and-use tax exemption, that at least one business receiving the exemption meet three of five enumerated standards (substantial capital investment, bringing new dollars to the state, paying above-average wages, receiving the same…
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