A provision included in the state budget would close a loophole that currently allows companies that recycle to claim a property tax credit. However, to put an end to that this year, lawmakers would have to pass the budget by August First…which isn't likely to happen.

State Senator Rob Cowles says that's why the Senate this week passed special legislation that would end the tax exemption for good. The measure is currently heading to the Assembly, where Cowles is confident it will pass.

Cowles says $34 million has already been shifted from businesses to other property taxpayers. If it stays in place this year, Cowles says there's $170 million worth of property before the Revenue Department that could be given a tax exemption, which could add hundreds to the tax bill of an average homeowner.

If the bill passes the Assembly, Governor Doyle has indicated he would sign it. 

WHBY's Rick Schuh contributed to this report.

AUDIO: Andrew Beckett reports (MP3 1:07)

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