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Committee advances business tax package after contested amendment on arena event credit is withdrawn
Summary
HB 5571, a business tax package that includes changes to angel-investor credits and a proposed operator credit tied to arena events, was advanced by the committee after a proposed amendment to add Bridgeport's Total Mortgage Arena was withdrawn following objections from the Bridgeport delegation.
The committee advanced HB 5571, a broad business-tax package that contains multiple tax-credit changes, a proposed tax credit tied to meeting event commitments at a named arena, and a working group on market-based sourcing. Members discussed which venues would be eligible to receive tax-credit-supported events and whether a specific $10 million credit for a private venue was appropriate.
Senato…
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