Kurt Anderson Testifies at Joint Hearing on need for EDGE Tax Credit Reform
SBAC Policy Committee member Kurt Anderson with Corbett Duncan & Hubly traveled to Springfield on Thursday to testify about the need for EDGE tax credit reform and providing access to the tax credit to small businesses.
The State Government and Revenue and Finance Committees met yesterday to discuss Representative Jack Franks’ legislation HB 1336 that would modernize and reform the EDGE tax credit program. There were broad areas of agreement and several areas of concern expressed on Illinois’ economic development policy.
Broad areas of agreement from the testimony include:
1. Allowing professional services firms to compete for EDGE tax credits (currently they are statutorily prohibited from doing so)
2. Lowering the capital investment requirements for EDGE tax credit applicants as they have little to do with the cost per job created (which ought to be a key metric in determining the success of each application).
3. Ensuring that small and mid-sized businesses have a fair opportunity to compete for EDGE tax credit.
We thank Kurt for testifying on behalf of the SBAC. The SBAC advocates for small business growth and will continue to be a voice for small business in Springfield and beyond. Make sure to check our Advocacy section for further updates on this legislation and other bills that impact small businesses.