Introduced by Sen. Morris Hood, III (D) on March 13, 2012, to require the House and Senate Fiscal Agencies to rate any proposed business tax deduction, exemption or credit on an “A” to “F” scale based on the cost per job the measure would reportedly generate. The ratings would presumably apply to both selective “corporate welfare” type tax breaks given only to certain firms or industries chosen by legislators and political appointees (and which are often cash subsidies styled as “refundable tax credits”), as well as various deductions and exemptions that any firm may claim. Full Text and Analysis.
Referred to the Senate Appropriations Committee on March 13, 2012.
Reported in the Senate on April 17, 2012, with the recommendation that the bill be referred to the Committee on Finance.
Referred to the Senate Finance Committee on April 17, 2012.