Senate Tax Committee to hear updated version of workforce housing bill

At the request of Senate Tax Committee Chair Sen. Rod Skoe (DFL-Clearkbrook), Sen. Dan Sparks (DFL-Austin) has authored SF 1968, an improved variation of the GMNP’s workforce housing proposal. This updated bill provides a 40 percent tax credit for investing in workforce housing in Greater Minnesota and an additional 10 percent tax credit if the investor increases employment by at least 10 new employees per year for three years after the credit is received. The GMNP supports this updated version, which further strengthens the economic development component of workforce housing by encouraging job growth. The bill is scheduled for a hearing in the Senate Tax Committee on Thursday.