Arizona House OK's expanded R&D tax credits - WTVM.com-Columbus, GA News Weather & Sports

Arizona House OK's expanded R&D tax credits

Posted: Updated:
PHOENIX (AP) -

The Arizona House of Representatives has approved a proposal by Speaker Andy Tobin that increases a tax credit given to businesses that invest in research and development by 200 percent.

The bill is just one of several tax credit or other reductions Tobin and fellow Republicans have either introduced or are planning this legislative session to boost businesses.

They come even as Arizona is about to lose $1 billion in yearly revenue when a temporary sales tax expires in June and business tax changes that will cut about $567 million in revenue within five years.

The bill that passed Monday on a 46-14 vote now goes to the Senate. It increases credits the Arizona Commerce Authority can grant from $5 million a year to $15 million a year by 2015.

Copyright 2013 Associated Press.  All rights reserved.

Powered by WorldNow

1909 Wynnton Road
Columbus, Ga. 31906

FCC Public File
publicfile@wtvm.com
706-494-5400
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WTVM. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.