 From Site Selection magazine, November 2004 
U.S. LEGISLATIVE UPDATE
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Oklahoma
Gov. Brad Henry passed the bulk of his agenda in the latest legislative session, including tort reform and an economic stimulus and tax-cut package. Proposed tort reforms include a $300,000 cap on non-economic damages, limits on product liability actions, reform of class-action suits and attorney fees and the introduction of pilot business courts for addressing highly technical commercial litigation. The economic development package eliminates capital gains on Oklahoma property, reduces income taxes on retirees and permanently reduces the state income tax to 6.65 percent. "This targeted tax relief is specifically designed to incentivize investment in and growth of Oklahoma companies and encourage the relocation of out-of-state corporate headquarters to Oklahoma," noted Gov. Henry when he introduced the measures in January 2004.
Oregon
Two executive orders issued by Gov. Ted Kulongoski are in the implementation stage. The first created an Office of Regulatory Streamlining to ease burdensome regulations and shorten the time it takes to get a permit. The second directed the state to increase the availability of large, quality, project-ready industrial sites to encourage business growth and expansion. Eleven such sites are now available for development.
Pennsylvania
Gov. Edward Rendell signed an economic-stimulus package into law on April 1. It includes several components, including loans and grants for local site development and development of real estate assets, tools for attracting venture capital to the state and incentives for tourism and farming-related businesses. It also provides guarantees for bank loans to second-stage manufacturers and technology companies for working capital and other financing needs, improves the Tax Increment Financing Guarantee Program and establishes an Infrastructure and Facilities Improvement Program.
Puerto Rico
Various initiatives are under way to expand the market for local products. The Puerto Rican Industry Investment Act, adopted in January 2004, provides preferential discount margins for products from companies that have been approved for purchases completed by government agencies. These companies can then compete on a more level playing field with companies that offer their products to the government at a lower price. SITE
Rhode Island
Gov. Donald Carcieri's fiscal year 2005 budget allocates $4 million to the Samuel Slater Technology Fund to boost investments in start-up companies, includes $1.5 million in seed capital to help universities attract research funds, proposes a new program to help entrepreneurs start new businesses and continues a community development fund for local economic development projects.
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