Economic Development. Public Money. Public Scrutiny.

What’s happening? 3 states have pending legislation to require disclosure of economic development deals.

Why is this important? It is red states and blue states. Florida HB 6059 (02 | FL). New York S1196 (2022 | NY) Illinois SB 3038 (2022 | IL)

How will this be important? Disclosure would include elements of economic development deals not previously disclosed including tax incentives, payments in lieu of taxes, tax abatements, loans, grants and tax rebates, as well as bonds and notes.

Route Fifty | Legislation Seeks to Block Secrecy With Economic Development Deals