2012 Senate Bill 1016

Rate proposed business tax credits, deductions and exemptions

Introduced in the Senate

March 13, 2012

Introduced by Sen. Morris Hood (D-3)

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.

Referred to the Committee on Appropriations

April 17, 2012

Reported without amendment

With the recommendation that the bill be referred to the Committee on Finance.

Referred to the Committee on Finance