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HB 1347: Corporate Transparency in the State Budget

GENERAL BILL by Randolph ; (CO-INTRODUCERS) Jenne

Corporate Transparency in the State Budget; Creates "Corporate Transparency in the State Budget Act"; requires each granting body & recipient corporation to complete application for economic development subsidy on form prepared by DEO; requires each contracting agency & applicant for contract bid to complete application prepared by DEO; requires economic development subsidy reports & details criteria for such reports; authorizes Auditor General to conduct contract audits; requires DEO to compile & report annual tax expenditure budget with revenues equal to or exceeding certain amount; requires DEO to submit report to Governor & Legislature assessing certain credits, abatements, exemptions, & reductions; requires each property taxing entity to submit annual report for property receiving tax abatement or reduction during fiscal year; requires certain corporations doing business in state to file tax disclosure statement with DOR; requires that DOR make tax disclosure statements available to public; requires DOR to develop oversight & penalty system; authorizes rulemaking authority.

Effective Date: 7/1/2012
Last Action: 3/9/2012 House - Died in Business and Consumer Affairs Subcommittee
Location: In committee/council (BCAS)
Bill Text: PDF



Bill History

Date Chamber Action
1/6/2012 House • Filed
1/10/2012 House • Introduced -HJ 133
1/12/2012 House • Referred to Business and Consumer Affairs Subcommittee; Rulemaking and Regulation Subcommittee; Appropriations Committee; Economic Affairs Committee -HJ 215
3/9/2012 House • Died in Business and Consumer Affairs Subcommittee