SENATE BILL REPORT

SB 5138

BYSenators McDermott, McDonald, Hayner, Lee and Rasmussen

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

Senate Committee on Ways & Means

Senate Hearing Date(s):February 16, 1987

Majority Report:  Do pass.

      Signed by Senators McDermott, Chairman; Gaspard, Vice Chairman; Cantu, Craswell, Kreidler, Lee, McDonald, Moore, Rinehart, Talmadge, Vognild, Warnke, Williams.

Senate Staff:Stephen Rose (786-7443)

                  March 11, 1987

AS PASSED SENATE, MARCH 10, 1987

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.

Fiscal Note:      available

Senate Committee - Testified: No one