Lembo Wants Tax Assistance Info Made Public
HARTFORD, Conn. (AP) _ Connecticut’s comptroller wants more information made public about hundreds of millions of dollars in state tax assistance intended to draw business investment and jobs.
Comptroller Kevin Lembo says state officials looking for ways to increase revenue or cut costs seldom consider how much money is spent in tax credits or other state aid. He says more transparency is needed.
Lawmakers drafted compromise legislation requiring public information detailing economic assistance related to tax credits and other state aid for industry groups rather than specific companies.
Public information would disclose costs, the purpose of the economic help, number of workers employed and jobs created or retained.
Business lobbyists say the compromise legislation needs to do more to allow companies to keep information private to avoid helping rivals.
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