To grant certain developers approved by state or local officials business income tax credits that are worth up to 25 percent of the amount spent to restore a structure that meets various criteria for being “historic.” Developers could "carry forward" any unused credit amount for up to 10 years. The bill would explicitly authorize foregoing up to $5 million in state revenue each year in order to deliver these subsidies.
|32 Yeas / 5 Nays|
|Democrat (16 Yeas / 0 Nays)|
|Republican (16 Yeas / 5 Nays)|
|Excused or Not Voting (1)|