Homestead Exemption for Some Small Business Owners Clears House

A measure that could allow certain small business owners to have more money to help grow their businesses recently passed out of the House.

House Joint Resolution 1053, by state Rep. Wade Rousselot, would freeze property tax increases on the homes of small business owners age 65 and older whose adjusted annual gross income does not exceed $54,000.

"The purpose of this bill is to help small business
owners have a little more money to put back into
their business and help grow their local
economies," said Rousselot, D-Okay. "We don't
need economists to tell us that we are heading
toward a recession; our citizens are smart
enough to recognize that when their dollars are
stretched further and further every week it's time
for state leaders to develop some economic growth
ideas that impact their lives. That is what this bill
is designed to do."

Since the bill would require a change in the state
Constitution, the Secretary of State would place a
question on the November ballot to allow citizens
to vote on the matter should the resolution pass
out of the Senate.

The resolution passed out of the House by a vote of
96-4 and now heads to the Senate for a hearing.