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Committee advances bill to make forestry tax credits transferrable to spur mill investment
Summary
The House Ways & Means Committee passed substitute House Bill 1085 by voice vote, a measure that would make existing job and investment tax credits expressly transferrable for forestry manufacturing. Sponsors said the change aims to attract investment and help restart or replace aging mills after a wave of closures.
A House Ways & Means committee advanced substitute House Bill 1085 on a voice vote after a presentation and limited questions. The bill would make existing job and investment tax credits explicitly transferrable for forestry manufacturing, authorizing the use of those credits as a financing tool to attract investment to lumber and pulp operations.
The bill’s presenter said HB1085 is “the most efficient and the most expeditious way to attack the real crisis that we have in our…
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