Assemblyman Marc Butler (R,C,I-Newport) re-affirmed his commitment to small business owners across New York state today during the Assembly’s “Small Business Day.” The Assembly minority conference joined with small business owners in unveiling the “Small Business Improvement Act of 2006,” which is aimed at not only increasing jobs but reducing taxes statewide.
“This legislation couldn’t come at a more critical time for New York’s small business community. I know for certain this bill will help every small business owner through these trying times,” said Butler. “As the ranking member of the Economic Development Committee, I am particularly pleased to see this legislation being introduced.”
The “Small Business Improvement Act of 2006” is a groundbreaking piece of legislation that includes initiatives to:
- Increase funds for the Main Street Revitalization program which provides strategic grants to renovate downtowns
- Restore the 1 percent lower tax rate for small businesses
- Provide a Small Business Energy Tax reduction
- Establish a Small Business Training Tax Credit for businesses that provide job training to employees
- Enact a prompt payment law for state contracts with small businesses and require at least 15 percent of state contracts be with businesses of 100 or less employees
- Provide education grants to business owners and employees for courses necessary to operate or support a small business
- Increase the sales tax vendor credit to 10 percent and raise the maximum credit to $1,000 per year for compliance costs
“I’m proud to be serving New York’s business community through my position on the Economic Development Committee,” concluded Butler. “Every time it yields an opportunity like this I know we are supporting the backbone of our economy. I will never stop working diligently for them.”