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Senate Advances Economic‑Development Incentive Bill Targeting Large Capital Investments
Summary
The Senate advanced House Bill 24 to the third reading calendar; the bill offers tax incentives for firms making large equipment investments, with a $10,000,000 investment threshold aimed at retaining capital‑intensive businesses, though some senators warned the threshold could disadvantage rural companies.
Senator Stevenson presented House Bill 24, an economic development incentives measure aimed at retaining businesses with large capital investments in Utah. Stevenson said the measure focuses incentives on firms with significant equipment investment: "This would be for any industry with a $10,000,000 investment in equipment...they would have to apply for a tax…
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