Holden Signs Tax Credit Accountability Act

The state has a new law that lets it keep closer eye on more than 50 of its tax giveaway programs. Governor Bob Holden has signed the Tax Credit Accountability Act, which sets up a system to review tax credits in more than fifty categories. He says the credits need regular review. Among other things, the new law requires those who get tax credits from the state to report for three years on how the credits are being used, and the economic development that is resulting from them.