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Bush signs economic growth bills
By ASSOCIATED PRESS
Published May 31, 2006
ORLANDO - Five economic development bills signed into law Tuesday by Gov. Jeb Bush include about $400-million in business tax breaks and will increase state spending for research and development and space activities. One bill will offer $245-million in corporate and insurance premium tax credits designed to lure high-tech industries to Florida. Another would established a $95-million university research fund and authorize new medical schools at the University of Central Florida in Orlando and Florida International University in Miami. Two measures offer state and local sales tax exemptions of about $51-million for equipment and machinery used for research, spaceport activities, manufacturing and mining. The final bill revamps the state's space program: $42-million to strengthen it and $3-million in tax breaks for the space and defense industries. "Now's the time to focus on personal income growth. The only way to do that is to increase wages," Bush said.
[Last modified May 31, 2006, 05:24:52]
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