Extends certain accommodations for businesses participating in State economic development programs.

This bill extends temporary flexibility for businesses receiving state tax credits under economic development programs. It allows eligible businesses to reduce the required time employees spend at their facility (from 60% to 50% or 40%, depending on location) for tax periods ending March 31, 2024, and requires them to make payments (5% for 2022 credits, 20% for future credits) to fund small business support. The funds must be used within 12 months for downtown activation or small business financing in designated areas, with annual reports to the legislature. The bill applies to businesses with existing tax credit agreements that entered into incentive agreements before April 1, 2024.