State News
1:15 pm
Mon March 31, 2014

Koehler proposing tax break for businesses hit by severe storms

Rebuilding a business after a natural disaster can be a challenge. Insurance money will often cover some, but not all of the cost to fix a damaged building. That's why a pair of lawmakers wants to give a tax break to businesses hit by severe storms.

Senator Dave Koehler, a Democrat from Peoria, says while last November's tornado in nearby Washington resulted in mainly residential damage, he wants a law to prevent businesses from having to close.

"Small business is the backbone of the economy. We're trying to be proactive and anticipate what the obstacles might be for a business to rebuild."

The proposal would provide a property tax break that gradually decreases over 15 years. Koehler says it will not limit the amount of money going to local taxing bodies, like schools.