Health News Illinois reported: Lawmakers unveil state-backed tax plan to support independent pharmacies

Independent pharmacies would be able to access tax benefits under a state-backed plan unveiled Wednesday.

The proposal from Rep. Will Guzzardi, D-Chicago, and Sen. Doris Turner, D-Springfield, would allow eligible pharmacies and small businesses to access tax credits on payroll and on other business benefits like a sales tax exemption on qualifying building materials.

Businesses may also receive the benefits of Illinois's enterprise zone law without submitting an application for designation as a “high impact business.”

Eligible businesses would need to be independently owned, with no more than four stores and plan to make a qualifying capital investment of at least $500,000.

“We can use tax policy to help small independent businesses meet basic needs in underserved communities,” Guzzardi said in announcing the plan. “That's what (the bill) will do: help independent grocery stores and pharmacies provide affordable food and medicine in parts of our state that desperately need them."

The plan was announced with the backing of the state’s Department of Commerce and Economic Opportunity and the Illinois Retail Merchant Association.

Rob Karr, the association’s CEO, said it is crucial for lawmakers to support businesses that are “essential to the health and well-being of communities throughout Illinois.”

“(The bill) will help relieve some pressure by providing tax benefits to independent grocery stores and pharmacies in exchange for meaningful investments, including hiring and retaining employees, and improving property and storefronts,” he said.

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