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House passes tax bill despite Dayton's objections

House passes tax bill despite Dayton's objections Click to Enlarge Photo:

May 2, 2012 at 6:55 am

ST. PAUL, MN (AP) - The Minnesota House has approved a tax bill that has
become a linchpin in end-of-session negotiations.
 
The House passed the bill in a 73-57 vote on Tuesday. The Senate is likely to
vote on it soon.
 
The bill would cost the state $52 million this year and $139 million in the
next two-year budget. It would freeze state property taxes for businesses. It
also includes credits to foster investment in startup companies and an upfront
sales tax exemption for businesses buying equipment that now have to apply for a
rebate.
 
The House moved forward with the bill despite Gov. Mark Dayton saying he has
''significant differences'' on it. Many Democrats dislike that the bill uses
state reserves to pay for the tax breaks.

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