 From Site Selection magazine, November 2002
U.S. LEGISLATIVE UPDATE
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Kansas
Lawmakers, plowing through a 106-day session, longest in Kansas history, okayed a $252 million tax plan which includes raising the state sales tax from 4.9 percent to 5.3. Also approved were increases in motor fuels taxes and vehicle registration fees to maintain steady funding sources for the state's highway construction program. Goodyear, which is modernizing its Topeka tire factory, got a boost courtesy of the legislature, which approved the issuance of bonds used in conjunction with investments approved by Goodyear. The bonds will be issued in increments of $10 million for every $50 million Goodyear invests in the Topeka factory. A bill which would have established a school voucher system in the state died in committee, but many expect debate on this issue to continue in 2003.
Kentucky
New economic development legislation aims at attracting high-tech companies to the state. It creates a statewide network of more than 20 innovation and commercialization centers geared to the needs of new economy firms. It links scientists and entrepreneurs with innovation-related funding tools created in 2000 under the Kentucky Innovation Act. The same bill also offers incentives to encourage investment in young technology companies. A new law shifts the decision on where cell towers are located from the Public Service Commission to local governments.
Louisiana
Sales tax on food and utilities fell from 4 cents to 3.9 cents effective July 1 and will drop to 3.8 cents on July 1, 2003. Another bill increases the allowable rate of itemized deductions on items including home mortgage payments. The state added 12 cents to its cigarette tax effective Aug. 1, bringing it to 36 cents. The increase is expected to generate $27.4 million the first year and about $44.7 million starting July 1, 2003. Created a tax credit for certain expenses incurred by economic development corporations.
Maine
The maximum a corporation may receive from the Regional Economic Development Revolving Loan Program Fund was increased from $1,250,000 to $2,500,000. The Maine Rural Development Authority was established for the purpose of providing loans to communities for construction of commercial facilities and leading the development or redevelopment of commercial facilities in areas where economic need has not been met by private investment. Gov. Angus King says the legislature may have to consider raising taxes during its 2003 session if a state budget shortfall approaches $1 billion as predicted.
Maryland
Increased funding for K-12 education by $250 million, the largest increase in state history. Environmental legislation will toughen air quality enforcement and drinking water standards.
Continue to: Massachusetts . . .
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