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Gov Vetoes Second Tax Credit Limiting Bill: SB 508

Just on the heels of his veto of SB 364, the Governor has also vetoed SB 508. That bill would have required:

any bill, introduced on or after January 1, 2012, that would authorize a personal income or corporation tax credit to contain, among other provisions, (1) specified goals, purposes, and objectives that the tax credit will achieve, (2) detailed performance indicators to measure whether the tax credit is meeting those goals, purposes, and objectives, and (3) a requirement that the tax credit cease to be operative no later than 10 taxable years after its effective date, as specified.

And the Governor’s veto message:

I am returning Senate Bill 508 without my signature.

While I agree that we should consider sunset clauses for personal income and corporate tax credits, one size does not fit all. The legislature should examine all its bills to determine how long they should exist or, indeed, whether they should exist at all.

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