Tennessee bill would boost transparency around business tax credits

Amid increased public pushback against corporate incentives, new state legislation aims to boost transparency around officials’ use of public funds to entice businesses. Sponsored by Sen. Kerry Roberts (R-Springfield), the Fair Accountability and Clarity in Tax Subsidies Act puts forth several new disclosure requirements for companies that secure taxpayer dollars. (You can read the full bill here.) One of the biggest pieces of the newly filed bill would target business tax credits. Current law shields the value of such incentives from becoming public, but Roberts’ bill would require that information to be publicly disclosed. Memphis Business Journal

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Author: Matthew Randle