property tax; residential property

Summary

The bill changes how the tax base for the prime contracting classification is calculated, allowing deductions for sales and contracts tied to military reuse zones, environmental‑technology facilities, hazardous‑substance clean‑up, and equipment with independent utility. It primarily impacts licensed prime contractors and related manufacturers, reducing their tax burden for qualifying projects. The goal is to incentivize development and remediation activities in targeted areas.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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