Introduced
by
To authorize tax relief for a business that was forced to close for at least six weeks due to an executive or emergency order that cost the firm to lose 25% of its gross receipts for the year. The bill would authorize a business income tax credit equal to the firm’s property tax liability for the year. Businesses that rent would get a comparable credit based on lease costs. This applies to restaurants, taverns, hotels and motels, health clubs, entertainment facilities and other such “public facing” enterprises.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 19 to 16 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
