The House Ways and Means Committee passed S.B. 3 on Tuesday, 23-0. The measure, introduced in February by Sen. Jeb Bradley, R-Wolfeboro, would exclude from state business profits tax forgiven Paycheck Protection Program loan amounts granted to small businesses under the Coronavirus Aid, Relief and Economic Security Act
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The measure is estimated to cost the state $99.4 million in forgone revenue. The bill now goes to the House floor for consideration.
The bill passed the Senate in March, 23-0.
--Additional reporting by Jaqueline McCool. Editing by Roy LeBlanc.
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