Sen. Fran Millar, R-Atlanta, sponsor of SB 156, said Thursday that he'd now support the fantasy sports and yacht bills if the House lets his bill move forward in the final days of the session.
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Earlier Thursday, the committee attached a rural investment tax credit bill, House Bill 314, onto relatively minor legislation, Senate Bill 133, exempting some small businesses from paying the state corporate net worth tax.
The rural investment tax credit bill — named the Georgia Agribusiness and Rural Jobs Act — would make $60 million in state tax credits available to investors. The Senate Finance Committee had voted to table it Wednesday, making its chances of getting through the chamber iffy.
"This is about creating jobs in rural Georgia by increasing access to capital," said state Rep. Jason Shaw, R-Lakeland.
Gov. Nathan Deal vetoed a proposal that offered $110 million worth of tax investment credits in 2015.
Critics of the new bill, and the 2015 one, called them rewritten variations of investment tax credit programs used across the country that wound up making huge profits for a few large capital firms, or CAPCOs, that handled the investments. They said the programs create a windfall for banks and out-of-state capital investment firms, but supporters say this year's version is seriously needed because some rural businesses badly require access to capital to grow.
House Speaker David Ralston's son, Matthew, represents one of them, Advantage Capital Partners.