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Senate Finance & Revenue: Tuesday, June 6, 2023

The committee considered changes to the corporate activity tax.

Hearing Summary

On Tuesday, the Senate Finance & Revenue Committee held a public hearing on a controversial proposal to raise the rates of the corporate activity tax on some companies to pay for new exemptions and tax cuts for others. Notably, the proposal relied on a novel and, perhaps, problematic legal theory that could upend how the legislature approaches tax increases in future years.

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