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Committee takes testimony on tax-exemption bills aimed at attracting large ag processors; witnesses back lowering threshold
Summary
House bills 5168 and 5169 would exempt large agricultural processing projects from sales and use taxes if investments exceed $100 million; sponsors and industry witnesses urged lowering the threshold to $50 million, while municipal groups signaled opposition to aspects of HB5169.
The House Committee on Economic Competitiveness heard extended testimony on House Bills 5168 and 5169, a bipartisan package that would exempt large agricultural processing investments from sales and use taxes.
Sponsors Representative Meerman and Representative Snyder told the committee the bills target transformational projects — construction, infrastructure improvements, or retooling of agricultural processing facilities — and initially set an investment threshold of $100 million. Snyder said a substitute was being drafted to reduce that threshold to $50 million. The sponsors argued the exemption would be a targeted incentive: "The estimated impact…
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