PROVIDENCE – The R.I. House of Representatives last week approved legislation to increase accountability and transparency in tax credit programs and state agency reports.
Sponsored by Rep. Teresa Tanzi, H-6066A is one of the 18 bills backed by House leaders as part of their effort to address economic-development efforts in Rhode Island.
The bill would require the R.I. Office of Revenue Analysis’ Unified Economic Development Report to include a cost-benefit analysis of each of the state’s tax credit programs.
The legislation also requires the state Office of Management and Budget to inventory all reports required across state agencies and include information on their status in the annual budget bill submitted by the governor. •