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Wednesday, Oct. 28, 2009

The legislation, which expands existing law, would:

Incentives package

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- Exempt from sales tax fuel used in test flights and flights to transfer aircraft between manufacturing facilities

- Exempt computer equipment purchases from sales tax

- Allow a qualifying company to immediately pay no sales tax on construction materials, rather than wait for a 2011 phase-in

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- Ensure the company could negotiate with state officials to pay little corporate income tax for 10 years

- Allow the state to issue up to $170 million of economic development bonds that would allow a company to build using a lower interest rate, making the project cheaper

WHAT'S NEXT

- The measures require another perfunctory vote in the Senate before heading to the House today. The package is expected to go the governor today or Thursday.

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