Beagle And Butler Introduce Measure To Encourage Investment In Local Communities
Neighborhood Infrastructure Assistance Program Aims to Spur Public-Private Partnerships in Local Infrastructure Projects
June 28, 2013
 
[ Bill Beagle Home | Bill Beagle Press ]
 
 

COLUMBUS–State Senator Bill Beagle (R-Tipp City) and State Representative Jim Butler (R-Oakwood) announced the introduction of companion bills to create the Neighborhood Infrastructure Assistance Program in Ohio. The program would offer tax credits to Ohio businesses that invest in community infrastructure projects undertaken by local governments or local nonprofit economic development groups. Examples of eligible projects could include central business district revitalization, land reutilization, affordable housing development, community center expansions, microenterprise business lending for start-up entrepreneurs, and historic theater renovations.
 
“Our communities continue to struggle to find the capital necessary to undertake these types of projects,” said Senator Beagle. “This bill will introduce a proven development tool to help our local governments address physical infrastructure projects holding back economic growth in their communities.”
 
“Creating partnerships between the business community and local governments is a wise strategy,” said Representative Butler.  “Enlisting the financial expertise of local businesses will be beneficial for local governments, and having businesses put some own their own skin in the game will provide the incentive to ensure that these projects are a success.  This type of cooperation will help revive communities throughout Ohio.”
 
Senate Bill 149 and House Bill 219 would authorize a 50% tax credit in urban areas and a 60% tax credit in rural areas of the state for contributions over $5,000 dollars. The legislation includes a cap of $5 million in total tax credits that may be issued annually under the program and a $500,000 cap on single investments eligible for the credit.

 
 
 
  
Featured Posts

Beagle Announces Approval Of $9.65 Million Investment In Sinclair Community College

 

"Serving more than 300,000 students across the state, it is important to continue to invest in community colleges that play a key role in Ohio's workforce development," said Beagle.



 
 

PHOTO: Beagle Joins Governor For Signing Of Senate Bill Raising Awareness For Deaf Culture History

 

"Deaf history is rich and complex, but not without adversity," said Senator Beagle, who sponsored the legislation in the Senate. 



 
 

Beagle Welcomes Industry Leaders To Statehouse For Ohio Aerospace Day 2017

 

"Aerospace Day is an important opportunity for us to showcase the many facets of Ohio’s rapidly evolving aviation industry and to inform policymakers about how we can lead in promoting this robust economic sector," said Beagle



 
 

ADVISORY: Beagle Announces Ohio Aerospace Day 2017 At Ohio Statehouse

 

COLUMBUS - State Senator Bill Beagle (R-Tipp City), Chair of the Ohio Aerospace and Aviation Technology Committee, invites you to join him for a gathering of government, industry and academic leaders to discuss the future of Ohio's aerospace and aviation industry on Tuesday, November 28, 2017 at the Statehous