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Bill > S180


MA S180

Relative to transparency of economic development spending


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to transparency of economic development spending. Economic Development and Emerging Technologies.

AI Summary

This bill aims to increase transparency in economic development spending in Massachusetts. It requires the Massachusetts Department of Revenue to submit an annual "Unified Economic Development Budget" to the legislature, which would detail various tax credits, abatements, exemptions, and reductions provided to corporations, as well as state appropriated expenditures for economic development programs. Additionally, the bill requires property-taxing entities (such as local governments) to report on any property tax reductions or abatements of at least $5,000 granted to businesses. This information would be compiled and published by the Department of Revenue. The bill also includes a provision that allows the state Comptroller to withhold development subsidies from any delinquent property-taxing entities that fail to submit the required reports.

Committee Categories

Business and Industry

Sponsors (12)

Last Action

Accompanied a study order, see S2486 (on 04/26/2018)

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