San Nicolas withdraws tax credit bill following concerns - KUAM.com-KUAM News: On Air. Online. On Demand.

San Nicolas withdraws tax credit bill following concerns

Posted: Updated:
by Ken Quintanilla

Guam - Although a public hearing was originally set for today, Senator Michael San Nicolas has officially withdrawn his Bill 288 that would have suspended the issuance of tax credits. The measure was introduced in March and would have suspended tax credits expect for those already contractually obligated or offered under the Internal Revenue Code.

"We're going to be revisiting it because we want to make sure that all the different things that are going to be impacted by it are going to be reviewed more extensively the original bill was very broad stroked and we're realizing that there are other areas that we want to revisit and make sure we're going about it in the right direction so we want to look at it more closely," he said.

As we reported the bill was introduced following concern over the tax credits being issued in lieu of payment for the Layon landfill condemnation case.

The bill drew criticism from the administration who believed San Nicolas was throwing up a roadblock in the whole tax credit process. San Nicolas says the Administration's concerns along with the possible impacts the measure would have on individuals who apply for property tax credits raised red flags and weighed in on his decision to withdrawal. San Nicolas says while he will revisit the entire proposition, he's unsure if and when a revised bill will be introduced.
  • NEWS HEADLINESMore>>

  • Find awesome deals on the Shop Guam app

    Find awesome deals on the Shop Guam app

    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
    It's the biggest shopping event in the Western Pacific, and it's back just in time for your holiday shopping needs. Take advantage of the over 300 offers and discounts during the Guam Visitors Bureau 6th Annual Shop Guam e-Festival. The campaign kicked off earlier this month and runs through February 2018. Download the Shop Guam mobile app, available on both iOS and Android Devices, for more information.More >>
  • GFD back up to 8 operable ambulances

    GFD back up to 8 operable ambulances

    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
    They respond to thousands of calls a year. With that being said, mechanical failures will happen from time to time, but the Guam Fire Department is back up to 8 ambulances serving the island daily. According to Fire Chief Joey San Nicolas, currently there are 2 that are serving as back up and 3 that are still undergoing repairs. "There's a rare occurrence that multiple units go down at the same time mostly for the same reasons- which is really air con units in the patient compar...More >>
  • Government wants full payment from Ray Charles Tedtaotao Camacho

    Government wants full payment from Ray Charles Tedtaotao Camacho

    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
    It's a $750 wedding ring, but its significance and meaning, priceless. While Ray Charles Tedtaotao Camacho is serving life behind bars, the government argues he's not being held fully accountable for his crimes. Five years ago, Camacho kidnapped and raped Monique Baza after she made a quick run to the bakery for bread. Though it's a minimal amount for the ring that was never recovered, defense has motioned to waive restitution.  The government, in its response this week, argued ...More >>
Powered by Frankly