Audio – Senator Keith Ingram Reporting News From 92nd General Assembly
August 22nd, 2019 • News

August 22, 2019

  • From the historic hallways of the most beautiful state Capitol in our great nation, this is Senator Keith Ingram.
  • Out of all the legislation I sponsored during this year’s session, Act 201 probably had the broadest support across party lines.
  • It creates tax incentives for businesses that invest in areas that are economically depressed, using census data that identifies the number of low-income families.
  • The legislation refers to the areas as Opportunity Zones. Business and civic leaders from all across the political spectrum support the idea, because everybody benefits.
  • Residents can apply for jobs in their local communities. Businesses can boost their bottom line.
  • Local government entities will enhance revenue, so they’ll be abide to provide more essential services that improve the quality of life.
  • Investors can defer taxes on capital gains from businesses in an Opportunity Zone.
  • The tax incentives become even more attractive over time, and if investors keep their business in operation for at least 10 years, the tax breaks are enormously attractive.
  • So far, 85 areas have been approved as Opportunity Zones, including parts of Crittenden, Phillips and St. Francis Counties.
  • I’m grateful to my colleagues in the Senate for their unanimous support of Act 201.
  • It will take several years for the various tax incentives to fully take effect, but over the long term the economic benefits of Opportunity Zones will be tremendous.
  • From the Capitol, it is always my great honor and most sincere privilege to serve you as your state Senator. This is Keith Ingram.
      Click to Listen - Audio Recording from August 22, 2019