Budget Amendment ID: FY2012-S3-121

GOV 121

FISCAL RESPONSIBILITY WITH GRANTS

Messrs. Tarr, Hedlund, Ross and Montigny moved that the proposed new text be amended by inserting, after Section __, the following new Section:-

“Section __.  Notwithstanding any general or special law, rule or regulation to the contrary, before the governor, any state agency or quasi-state agency provides a discretionary tax credit or refund under chapters 58 to 65C, inclusive, of the General Laws, or any loan, grant or other financial assistance of at least $500,000 to a person, as defined in section 1 of chapter 63 of the General Laws, the governor, state agency or quasi-state agency shall submit a cost-benefit analysis detailing the prospective financial and employment impacts in the commonwealth, in writing, to the clerks of the house and senate; provided, however, that the cost-benefit analysis shall not disclose any trade secrets as defined in Clause 20-6 of Section 7 of Chapter 4 of the General Laws.”