Wednesday, February 22, 2012
Senate Bill 1532 which would retain tax exemptions for Facebook faces its final vote in the House.
The need for a permanent solution led to the drafting of Senate Bill 1532. The bill initially granted an exemption from central assessment for companies located in enterprise zones. The Senate Committee on Finance and Revenue later amended the bill, adding specific conditions required for a company to qualify. The new restrictions ensure that the bill will exclude all companies except Facebook.
The bill passed the Senate with a vote of 30-0 before moving on to the House Revenue Committee for assessment. As soon as the Senate amendments had been read, the committee voted to send the bill to the House floor without any discussion or objection. Rep. Mike McLane, R-Powell Butte, attended the committee in person in order to volunteer to carry the bill in the House.
Read more at Oregon Capitol News.