Radio Report: Rep. Steele’s bill to offer additional tax credits to Main Street businesses gains House approval


Increased tax credits may be offered to businesses in 39 Washington Main Street communities under a bill that passed Thursday in Olympia. Nic Scott reports from the state Capitol.

 Radio Report Transcript

SCOTT: House Republican Deputy Leader Mike Steele of Chelan sponsored legislation that makes more tax credits available through the national Main Street Program. Steele said on the House floor on Thursday that the program has been helping Washington communities revitalize the local economy, business appearance, and image of their downtown commercial districts.

STEELE: “These programs are doing good works in communities like mine, Madam Speaker, where they take care of beautification, they help out with economic development, they host events – they’re in general just doing good community works.”

SCOTT: House Bill 2306 allows participating businesses to become eligible for additional savings through the Main Street Tax Credit Incentive Program.

STEELE: “This allows them to continue doing good work, draws down the total amount of the $5 million that the state has allocated, and keeps Business and Occupation Tax local, for local use, doing good community work.”

SCOTT: The Main Street program leverages local assets to revitalize historic, cultural, and architectural resources in commercial districts.

The bill passed the House unanimously and now heads to the Senate.

Nic Scott, the state Capitol.

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