Hundreds of Bills to be Ruled Upon
The state legislature and the Governor will decide the fate of hundreds of bills in the coming weeks. Among them is a measure that would put a spotlight on the issue of state tax breaks.
Monday, August 16, 2004
The State Controller, Treasurer and chair of the Board of Equalization are all urging support of a bill that would require a yearly review of state tax expenditures, which include deductions or other types of tax benefits. Democratic state Assemblyman Mark Ridley-Thomas says the purpose of the review is to answer questions about the overall worth of what some call subsidies or tax breaks. Cut: MarkRT1 (:08) “What the public benefit has been, what the economic stimulus looks like, what the job creation is, it ought to be indexed and quantified.” Democratic lawmakers and the State Treasurer have pushed to end certain tax breaks. Ridley-Thomas says his measure is the first step toward determining which credits should be kept and which should be outlawed. The bill now moves to the Governor for his signature or veto. SOC