Senator Harry Kennedy (D-1) has obtained approval from the Senate Committee on Economic Development, Tourism and Local Government of his proposal to extend the Quality Jobs retention program to August 30, 2013. That credit expired August 30, 2007.The Committee Substitute also contains provisions that would increase the annual cap on the Enhanced Enterprise Zone program from $14 million to $24 million and increase the annual cap on the Quality Jobs program from $40 million to $60 million. Senator Kennedy's bill is the first broad economic development bill passed by the committee this session.
MEDC thanks Senator Kennedy for his leadership in carrying this legislation and we look forward to working with him as the bill progresses through the legislature.
Senator Kennedy's bill is SB 718.
We are also continuing to work with House leaders as we assemble the economic development packages for this session.
