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Committee Considers Tax Relief Legislation

Oct 15, 2021

A bill providing financial relief to businesses shutdown during the pandemic was considered by the House Tax Policy Committee this week. The Senate bill, introduced by Senator Kevin Daley (R-Lum), includes a two-year refundable tax credit for businesses closed due to the pandemic for at least six weeks and who lost at least 25% of their sales. An eligible business could claim a credit equal to the amount of property taxes attributable to the business during the same calendar year.

During the hearing, the committee heard an overview and testimony on the bill, including opposition from the Department of Treasury. Senate Bill 393 remains before the committee awaiting further consideration.

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