Bill By Santa Barbara Legislator To Review Corporate Tax Breaks Passed By State Senate
The State Senate passed a bill authored by a Santa Barbara legislator intended to make sure than big businesses aren’t taking unfair advantage of tax incentive programs. SB 468 would establish a review process for a number of state tax credit and exemption programs.
Democratic State Senator Hannah-Beth Jackson of Santa Barbara introduced the legislation. Jackson says a number of incentive programs have been in use for decades without documented proof they are reaching their goals.
The bill would establish a review board to assess eight of the state’s most costly programs. With the bill passing the State Senate, it now goes to the State Assembly for consideration.