By Howard Fischer
Capitol Media Services/East Valley Tribune
Developers could soon lose a tax credit they now can get for donating land for public schools.
Without dissent, a special legislative panel has recommended that their colleagues repeal a law that gives home builders a state income tax credit equal to 30 percent of the value of the property they provide. That credit has been in place since 2000.
The recommendation of the Joint Legislative Income Tax Credit Review Committee is not the final word. It must be approved by the full Legislature and gain approval of the governor.
But the move gained the backing of all the Republicans on the panel. And even with the reduction in its hold in the Legislature, the GOP remains in firm control.
Repeal, however, will not come without a fight. Spencer Kamps, lobbyist for the Home Builders Association of Central Arizona said the credit is good public policy and should be retained.
