Amendment #48 to H4000

Tax Credit Effectiveness Study

Representatives Jones of North Reading, Peterson of Grafton, Hill of Ipswich, Poirier of North Attleborough and deMacedo of Plymouth move to amend the bill by adding the following section:-

“SECTION XX. Chapter 63 of the General Laws, as most recently amended by chapter 36 of the acts of 2013, is hereby amended by inserting, after section 38FF, the following section:-

Section 38GG. (a) For the purposes of this section the term “administering agency” shall mean the state agency or quasi authority charged with certifying or otherwise administering a credit against corporate income tax.

(b) For each business that received a corporate income tax credit pursuant to sections 31A, 31H, 38M, 38N, 38Q, 38R, 38U, 38X and 38W, the administering agency shall identify and submit a report on the information in subsection (c) to the executive office for administration and finance. If no agency is authorized under the section, or if the section does not provide for certification or administration of the tax expenditure, the department of revenue shall submit the report.

(c) Biennially, on or before October 1, the administering agency shall identify and report on the following information:-

(1) The name of each taxpayer approved for the allowance of a tax credit;

(2) The local address of the place of business of the taxpayer and headquarters, if different than the place of business, and website of the business;

(3) The date of the award;

(4) The municipality and county in which the site is located on the date the credit is awarded, if applicable;

(5) The total amount of credit against tax liability, reduction in taxable income or exemption from property taxation granted to each taxpayer;

(6) Specific outcomes or results required by the tax expenditure program and information about whether the taxpayer meets those requirements, including the intended use of the incentive by any category to which the law restricts or limits uses of incentive funds;

(7) An explanation of the agency’s certification decision for each taxpayer, if applicable;

(8) The number, type, and wage level of jobs created or retained as a result of the tax incentive, if applicable;

(9) Any additional information submitted by the taxpayer and relied upon by the agency in its certification determination; and

(10) Any other information that agency personnel deem valuable as providing context for the information described in this subsection.

(d) The administering agency shall publish the report on its website and submit the same to the executive office for administration and finance and the house and senate committees on ways and means.”.