New Jersey Senate Republican Leader Tom Kean stated the following about news that the Borgata is opening transformative Atlantic City entertainment venues this year:
“This new development will help make Atlantic City a more diverse and attractive destination. It will help maximize the impact of bipartisan legislation that I introduced to regularly bring world-class entertainment to venues in Atlantic City and across New Jersey and, in turn, boost the state’s economy and job market.”
Last month, Senator Kean introduced bipartisan S-2721 to repeatedly and consistently draw A-List performers to the Garden State. Qualifying entertainers who perform at least four dates in Atlantic City’s tourism district would get a state tax credit on all income they earn performing at any New Jersey venue, including in Atlantic City, Camden, Trenton, Newark and Holmdel, in the same calendar year. The Secretary of State will set the qualifying criteria, including record sales, ticket sales, awards, etc., and a transparent application process will be administered by the Director of the Division of Taxation.
The Senator noted that this legislation would not cost taxpayers extra money and would make New Jersey competitive with more affordable tourism spots, such as Las Vegas, where there is no state income tax and A-List “residencies” are thriving and growing the economy.
Senator James Whelan (D-Atlantic), chairman of the State Government, Wagering Tourism & Historic Preservation Committee, also sponsors S-2721.
New Jersey's 16 Senate Republicans serve to make New Jersey the place to live, grow, work, vacation and retire. Caucus solutions to lower costs, create jobs, enhance education and empower people will help generations of families stay together and improve our state. Follow Senate Republicans on Social Media.
No comments:
Post a Comment