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Gov Vetoes Bill to Publish Tax Credit Recipients

Governor Schwarzenegger vetoed AB 2666 which would have required FTB to publish a web site reporting tax credits claimed by publicly traded companies.

The Governor’s veto message:

To the Members of the California State Assembly:

I am returning Assembly Bill 2666 without my signature. My Administration has consistently supported efforts for greater transparency in government, including the “Reporting Transparency in Government” website. However, this bill inappropriately seeks to publish confidential tax information for no apparent benefit. The Franchise Tax Board and the Department of Finance already publish annual reports detailing all tax expenditures, their cost, their intended benefit and other useful information. The Franchise Tax Board also publishes an annual well-known list that identifies the largest 250 tax delinquencies of individual and business taxpayers.

I am unclear as to the need for this bill, other than for the sponsor to continue to provoke and alienate businesses attempting to create jobs and economic recovery in California.

For these reasons, I am unable to sign this bill.

See more in the Sacramento Bee.

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