NFIB State Director Ben Homeyer today commended the state Senate for giving second readings to measures that would greatly ease the financial and regulatory burden on small businesses.

• H. 5006 would exempt the first $10,000 of a small business’s net depreciated business personal property from taxation. It would also eliminate filing requirements for businesses below that threshold, providing additional relief for small business owners. “Usually, when you buy something, you pay sales tax once,” Homeyer said. “Small businesses pay that sales tax, but they also pay a business personal property tax on the same equipment, the same desks and chairs, the same laptops and tools, year after year. That’s not fair.”
• H. 3021, meanwhile, calls for a more thorough review of regulations for their impact on small business, economic development and state agencies. It would also tighten the requirement that agencies have clear legal authority before issuing regulations and set new rules for cost estimates and review and create an automatic expiration schedule so older regulations must be reviewed and renewed. “New rules and regulations can often mean extra paperwork, more delays and higher costs for small businesses,” Homeyer said. “H. 3021 would help ensure that regulations are truly needed, within the law and fully reviewed for their impact on small employers.”

“Our members urge the Senate to give final approval to these long-needed bills and make it easier for them to grow and create jobs,” he said.