|Posted:||January 16, 2020 02:48 PM|
|From:||Representative Jason Ortitay|
|To:||All House members|
|Subject:||Increasing Transparency in Tax Credit Programs|
|Please join me as a cosponsor of legislation to bring transparency to the Commonwealth’s tax credit programs.
Currently, only a handful of tax credit programs require annual reports to be submitted to the General Assembly, and the information contained in them is often insufficient for citizens to learn much about how the programs are operating.
This legislation requires an annual report for every tax credit program to be made to the General Assembly and posted online. The reports will include the name of each taxpayer that receives a tax credit, information on the amount of the credit that is issued or used in the year, the amount of tax credits that are outstanding, and similar information relating to taxpayers that buy or are assigned a tax credit.
Similar legislation was introduced last legislative session as House Bill 1947.
This issue has taken on greater importance after the Attorney General announced criminal charges relating to two tax credit programs. While additional reports cannot stop dedicated fraudsters, the additional information can help policymakers monitor the tax credit programs.
I hope that you join me in co-sponsoring this important legislation.