Home / Home news / Brewer vetoes bill for business property tax break

Brewer vetoes bill for business property tax break

Gov. Jan Brewer has vetoed a bill to create a property tax break for businesses that qualify by making new investments and creating jobs.

The so-called “invest Arizona” legislation vetoed Friday would have provided qualifying properties with an assessment ratio providing a significantly smaller property tax bill.

Supporters said the tax break would spur business investment and boost the economy. Opponents said it would effective penalize small and existing businesses that don’t qualify for the favorable tax treatment.

Business groups were divided on the legislation, and Brewer cited that in explaining her veto, which she called reluctant.

Brewer also said the bill is unclear, could hurt local governments’ revenue and favor new businesses over existing ones.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *




Check Also

First Lady Michelle Obama spoke of hope and a leader who needs to be smart and generous at Phoenix Convention Center. (Photo by Kristiana Faddoul/Cronkite News)

First lady calls Trump’s debate remark ‘insult to Americans’

Michelle Obama said that Donald Trump’s refusal to say he’d accept November 8 election results if he loses is an insult to millions of Americans who are voting in the presidential election.