FINAL BILL REPORT

SB 5138

                                   C 49 L 87

BYSenators McDermott, McDonald, Hayner, Lee and Rasmussen

Authorizing disclosure of information received under tax deferral and tax credit programs.

Senate Committee on Ways & Means

House Committe on Ways & Means

SYNOPSIS AS ENACTED

BACKGROUND:

From 1972 through 1982, the Economic Assistance Authority received applications for tax deferrals on new manufacturing investments.  They issued regular reports listing name of applicant, location, estimated investment, number of jobs, and decision on project.

In the last two legislative sessions, three new programs have been adopted to use tax incentives for economic development (Laws 1985, Chapter 232; Laws 1985, 1st extraordinary session, Chapter 2; Laws of 1986, Chapter 116).  Because businesses apply to the Department of Revenue, its rules of confidentiality apply.

SUMMARY:

Information on applications for sales tax deferrals and business and occupation tax reductions is no longer confidential.

VOTES ON FINAL PASSAGE:

      Senate    47     0

      House 92   1

EFFECTIVE:July 26, 1987