Senate Tax Chair: New Mayo Funding Plan Needs Work
ST. PAUL (AP) – A top Senate Democrat says the altered funding plan to help the Mayo Clinic expand needs work before moving forward.
The Senate Taxes Committee had been set Friday morning to take up the new plan, which replaced a complicated tax capture mechanism with state aid payment system that increases with private contributions. The new approach came to light Thursday.
But Sen. Rod Skoe, who chairs the committee, says he’s putting that effort on pause for now because the altered plan is incomplete.
Mayo Clinic came to the Capitol this year pitching up to $5 billion in private investment in Rochester if public entities committed to helping with infrastructure.
Skoe says he and other lawmakers are working to find a solution that will adequately fund those projects while protecting taxpayers.