SPONSOR: Voss
Beginning January 1, 2026, a "qualifying newspaper printing plant" as defined in the bill, will be authorized to claim a tax credit against its state income tax liability in an amount equal to 50% of the labor costs incurred by the qualifying newspaper printing plant during the tax year.
This tax credit can be transferred, sold, or assigned.
The total amount of tax credits must not exceed seven million dollars in any tax year.
A qualifying newspaper printing plant seeking to claim this tax credit must submit an application to the Department of Revenue that must include, at a minimum, its name, address, and the total amount of qualifying labor costs incurred by the plant during the tax year.
This tax credit is set to expire six years after its effective date.
This bill is similar to SB 1209 (2026).
Statutes affected: