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Bill to cap mining tax break fails for 2nd time in 3 days

Posted at 8:45 AM, Jul 19, 2020
and last updated 2020-07-19 11:49:09-04

CARSON CITY (AP) — Even after amendments were made to address concerns, a proposal to limit mining tax deductions failed to pass the Nevada Senate on Saturday night.

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The proposal would have capped the deductions that Nevada mining businesses can claim to 60% of current levels.

It would have exempted businesses that gross less than $10 million annually and directed about $100 million to restore potential cuts to education amid coronavirus-related revenue shortfalls.

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After Democrats revived the proposal Saturday, two days after it failed, lawmakers again voted 13-8 for the proposal on party lines, with Democrats in favor and Republicans against, denying it the two-thirds majority Nevada law requires to pass new taxes.