 |
Re: Virgin Trains' Vegas can't get these tax breaks granted to other public private benefit pronects why?
Author: FUD
Date: 06-11-2019 - 21:59
Follow the story back to the original article in the LV paper, which was conveniently linked early in the engineering article. The engineering article kind of muddled a few things. That's still no excuse for ranting without reading, as most of the other commenters apparently did.
1) this has to do with NEVADA state and local tax decisions. What's requested is essentially an exemption from state and local sales and property taxes, much like is granted to new industrial projects like the Faraday factory near LV, or Walmart or Amazon warehouses.
2) they *are* discretionary. The state and local governments have to agree to give up some tax payments.
3) they *are* subsidies, since the companies receiving these exemptions don't have to pay some state and local taxes that the general population of businesses do. Sometimes it's for a limited amount of time; rarely, it's forever.
Nothing in the article (either the original LV paper nor the rewrite in the engineers site) mentions anything about a similar deal in California.
This has nothing to do with the actual federal loans that Brightline collected (and that were approved for the original DesertXpress line until Republic congresscritters ordered FRA not to do it). Other information is needed to determine whether or not the LV line will get any such loans. Cutting the price to $4B suggests that fully private financing is possible this time.
1) this has to do with NEVADA state and local tax decisions. What's requested is essentially an exemption from state and local sales and property taxes, much like is granted to new industrial projects like the Faraday factory near LV, or Walmart or Amazon warehouses.
2) they *are* discretionary. The state and local governments have to agree to give up some tax payments.
3) they *are* subsidies, since the companies receiving these exemptions don't have to pay some state and local taxes that the general population of businesses do. Sometimes it's for a limited amount of time; rarely, it's forever.
Nothing in the article (either the original LV paper nor the rewrite in the engineers site) mentions anything about a similar deal in California.
This has nothing to do with the actual federal loans that Brightline collected (and that were approved for the original DesertXpress line until Republic congresscritters ordered FRA not to do it). Other information is needed to determine whether or not the LV line will get any such loans. Cutting the price to $4B suggests that fully private financing is possible this time.
