Lawmaker Wants To Keep Closer Tabs On Incentives
A Miami Beach State Representative wants to know more about the tax incentives Florida hands out to attract businesses or encourage them to expand. But David Richardson admits he doesn’t know much about a similar law already in place.
Richardson’s bill would require the Office of Economic and Demographic Research to prepare an annual report detailing what the state gives up to incentivize businesses. But just last legislative session, lawmakers passed a bill that would require the same office to review the state’s incentives on a three-year rotating schedule. The rule charges the office with evaluating the programs and determining the economic benefit of each. But Richardson says he wants the state to review those programs more frequently.
“Every three years isn’t adequate enough because we budget on an annual basis,” Richardson said.
Richardson says he’s filing the legislation because Miami Democratic Senator Gwen Margolis asked him to. He says the measure will increase transparency and help to ensure the incentives offered are doing what they’re supposed to do.