Introduced by Sen. Kevin Daley (R) on April 27, 2021
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. Official Text and Analysis.
Referred to the Senate Finance Committee on April 27, 2021
Reported in the Senate on May 27, 2021
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.