Redevelopment tax credits.

Summary

The bill sets aside $50 million of the state’s $300 million annual economic‑development tax‑credit for the Small Town Opportunity Initiative. It would give for‑profit developers a credit equal to 20% of project costs and nonprofits a credit equal to 30% for qualifying historic‑preservation or redevelopment projects that cost at least $15 million in designated small‑town or county downtown areas. The measure failed to pass.

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

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