❌ HB147
Exempt from sales and use tax certain port authority materials
Current Status: In House Committee (Development)
Summary
The bill exempts from sales and use tax building materials sold to contractors under contracts valued at $25 million or more for projects in areas with a port authority. This exemption applies specifically to construction projects that meet these financial and locational criteria.
Rationale
The bill introduces a tax exemption that favors specific contractors and projects, which may conflict with the Libertarian principles of free markets and limited government intervention in economic activities. Both the LP and LPO platforms advocate against government favoritism and cronyism, which this bill may promote.
Risks and Concerns
- Potential for cronyism and favoritism in government contracts.
- Increased government intervention in the market.
- Distortion of fair market competition.