Corporate tax bill revised

Sen. Garrett Richter, R-Naples, informed the Senate Commerce and Tourism Committee this morning that his bill to lower and phase out the corporate income tax is being revised so that the rate would only go down if state revenues grow.

A previous version of the bill that lowered the tax rate in small increments over several years irrespective of tax revenues has been a top priority of Gov. Rick Scott.

Telling the committee, “I believe that this bill is a critical cornerstone for a jobs agenda,” Richter asked for Senate Bill 1236 to be temporarily postponed to allow time for the bill to be further researched and revised.