2021 Legislative Session L 2021 Legislative Session: A Look Back with Legislators
Q: What are one or two outcomes from the 2021 Legislative Session that will have a significant impact on the Rochester area business community? A: Businesses in the Rochester area -- and really, all throughout Minnesota -- have been clamoring for relief. In particular, the number one issue I heard about was the Federal Paycheck Protection Program loans that many businesses used to keep their doors open and keep people on the payroll. Those loans were exempted from federal taxes, but due to a quirk in our tax laws, we had to take a specific action to exempt them from state taxes as well. The Senate took early action on this issue, but it took until the end of session for Gov. Walz and the House to agree with us and get it done. Those loans will now be exempt from state taxes, and related PPP expenses will be tax deductible. Of all the critical business provisions in the final tax bill, this is the most notable and important provision in the final tax agreement. Q: What is a notable or key accomplishment from the session? A : The Tax committee has focused on nimble, good tax and fiscal policies that empower Minnesota families and grow economic activity. As the chair of the committee, I am especially happy with the results we achieved and the impact it will have on southeast Minnesota. We created a new affordable housing tax credit to bring private money into the marketplace. We extended the Angel Tax Credit to encourage investments in startup companies focused on high technology, new proprietary technology, and other groundbreaking fields. We extended the successful, job creating tax credit to restore historic buildings. We established a film production tax credit to generate more economic activity from the film industry, and we provided supplemental local government aid for communities who need it most. Q: What are one or two outcomes from the 2021 Legislative Session that will have a significant impact on the Rochester area business community? A: One outcome of the 2021 legislative session that I am especially proud of is the substantial investment in and support of childcare and early learning. This will have a significant positive impact on the business community as well as families across Minnesota. As I talk with small business owners across the district, I often hear how lack of affordable childcare is a barrier to recruiting and retaining staff. The investments made to stabilize and support this system are needed now more than ever, given the additional challenges from the Covid-19 pandemic, and I am proud to be part of this important and impactful work. Q: What is a notable or key accomplishment from the session? A: One accomplishment I would note from this session is the inclusion of a provision I carried to expand the funding and reach of the Bridges to Healthcare program. This is a wonderful program with proven success that supports and provides wrap-around services for people, who might not otherwise have the opportunity to do so, to go into healthcare careers. This public/private partnership is a win/win for our community and local healthcare organizations, big and small. As a nurse myself, I know how important and rewarding a career in healthcare can be, and I am happy to do all I can to support this program so that others can experience that as well.
Rep. Liz Boldon District 25B
Sen. Carla Nelson District 26
| Advantage Magazine 10
July 2021
Made with FlippingBook Annual report maker