<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=192888919167017&amp;ev=PageView&amp;noscript=1">
Monday, March 18, 2024
March 18, 2024

Linkedin Pinterest

Lawmakers mull overhaul of business energy credits

The Columbian
Published:

SALEM, Ore. (AP) — Nearly a dozen tax credits will go away, others will shrink and the controversial Business Energy Tax Credit will be replaced with a new, significantly smaller program under a compromise plan advancing in the Legislature.

The Joint Tax Credits Committee unanimously gave its blessing to the plan on Thursday. The move sets the stage for votes in the full House and Senate.

The proposed changes are part of a legislative effort to reign in tax credits, which are projected to cost the state $750 million in lost revenue over the next six years. The overhaul deals with a third of them, which are set to expire next year.

The plan would extend tax credits for biomass and film production but reduce their price tags.

Loading...