Revises economic development provisions, including tax abatements, credits, and incentives for businesses.
This bill revises provisions related to economic development, including tax abatements, credits, and incentives for businesses. It authorizes the Office of Economic Development to approve a partial deduction of certain taxes for businesses intending to locate or expand in the state. It also establishes a program to award grants to qualified entities for infrastructure projects or rural housing projects. Additionally, it creates the Community Infrastructure Grant Program Account to fund these grants.
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