Bill to boost economy in poor areas advances in Virginia
RICHMOND, Va. (AP) - The Virginia House of Delegates will hold a final vote Tuesday for a bill meant to draw employers to rural and forgotten areas of Virginia through tax breaks.
The Washington Post reports the bill, introduced by Del. Will Morefield, R-Tazewell, attempts to help poor areas by offering 10-year term corporate and personal income tax breaks for certain companies that meet specific criteria.
The bill lists 40 counties and six cities as the poor areas of focus. The bill passed the Senate Monday 29-11, but not without some debate. Sen. Jennifer McClellan, D-Richmond, says some employees may avoid taxes by commuting to distressed areas and in the House debate, Del. Chris Jones, R-Suffolk, said the 10-year term was too long.
But Morefield says interviewed employers found that number attractive.
Information from: The Washington Post, http://www.washingtonpost.com
(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)