Summary of SB 0393

• Allows qualified taxpayers operating "afflicted businesses" to claim a tax credit for 2020 and 2021 equal to property taxes paid on business property, or 23% of gross rent paid if leasing, provided the business experienced a 25% or greater loss in gross receipts due to a COVID-19 order.

• Defines "afflicted businesses" as entertainment venues, exercise facilities, food service establishments, recreation facilities, cosmetology/barber shops, nurseries, athletic trainers, body art facilities, and hotels/bed and breakfasts.

• Qualifies businesses as negatively impacted if they were either closed to public access by a COVID-19 order or prohibited from conducting assemblages of people.

• Allows flow-through entity members to claim credits based on their distributive share of business income, with the department authorized to require proof of negative impact and revenue loss.

• Provides for refunds if the credit exceeds tax liability and applies retroactively to tax years beginning January 1, 2020.