Post by Logan on Dec 5, 2016 16:05:04 GMT -6
The latest attempt to force Ohio officials to seriously examine the more than $8 billion worth of tax credits, exemptions and deductions the state provides each year hit at least a temporary snag Tuesday.
Various lawmakers over the years have talked about the need to study and potentially alter the so-called tax expenditures that have such a major impact on state revenues. But the talk generally has not produced action — most of the tax breaks are fiercely guarded by various interests.
House Bill 9 would formally study the tax expenditures.
The bill would create a bipartisan review committee, with six lawmakers and a member of the Department of Taxation, to review each of Ohio’s 128 tax expenditures at least once every eight years. The committee would issue a report with each new budget on whether the expenditures are performing their economic goals, and recommend changes or elimination.
Read more: www.dispatch.com/content/stories/local/2016/11/30/supporters-still-hope-8-billion-in-tax-breaks-will-get-examined.html
Various lawmakers over the years have talked about the need to study and potentially alter the so-called tax expenditures that have such a major impact on state revenues. But the talk generally has not produced action — most of the tax breaks are fiercely guarded by various interests.
House Bill 9 would formally study the tax expenditures.
The bill would create a bipartisan review committee, with six lawmakers and a member of the Department of Taxation, to review each of Ohio’s 128 tax expenditures at least once every eight years. The committee would issue a report with each new budget on whether the expenditures are performing their economic goals, and recommend changes or elimination.
Read more: www.dispatch.com/content/stories/local/2016/11/30/supporters-still-hope-8-billion-in-tax-breaks-will-get-examined.html