Modernizing Agricultural and Manufacturing Bonds Act
Impact
One of the bill's major changes includes increasing the dollar limits on the bonds, raising the maximum amount for an individual taxpayer from $40 million to $120 million and the limit on the dollar amount for first-time farmers from $450,000 to $1 million. This adjustment is anticipated to facilitate greater access to financial resources for manufacturers and first-time farmers, potentially encouraging new business ventures and investment in agricultural production. Furthermore, the introduction of inflations adjustments to these limits will ensure that they remain applicable and reflective of economic conditions over time.
Summary
SB2723, also known as the 'Modernizing Agricultural and Manufacturing Bonds Act', seeks to amend the Internal Revenue Code to expand and modify certain rules surrounding qualified small issue manufacturing bonds. The bill proposes enhancements that will allow these bonds to encompass the production of intangible property and related facilities, which represents a significant broadening of what qualifies as manufacturing. This alteration aims to foster growth in both traditional manufacturing sectors and emerging industries focused on intangible goods and services.
Contention
While the bill garners support for its intent to stimulate manufacturing and agricultural sectors, there may be points of contention regarding the implications for local governance and community interests. Critics could argue that modifying these financial instruments and easing restrictions may benefit larger entities at the expense of smaller, community-based operations. There might also be concerns regarding whether the financial support mechanisms effectively reach the intended beneficiaries, particularly first-time farmers who may lack the experience and networks to navigate the amended regulatory landscape.
A bill for an act relating to property taxation for commercial child care centers and facilities and including effective date, applicability, and retroactive applicability provisions.(Formerly HSB 224.)
A bill for an act relating to property taxation for commercial child care centers and facilities and including effective date, applicability, and retroactive applicability provisions.(See HF 668.)
A bill for an act placing assessment limitations for property tax purposes on commercial child care facilities, and including effective date, applicability, and retroactive applicability provisions.(Formerly HSB 726.)
A bill for an act placing assessment limitations for property tax purposes on commercial child care facilities, and including effective date, applicability, and retroactive applicability provisions.(See HF 2655.)