Mich. House approves evaluations of business incentives
Lansing – Michigan lawmakers want the state to periodically hire outside contractors to evaluate the effectiveness of the state’s economic development incentives.
A bill requiring the independent assessments won approval on a 104-3 vote in the state House on Wednesday.
The sponsor, Republican Rep. Thomas Albert of Lowell, says taxpayers deserve to know if they are getting appropriate value from the programs. He says the reviews would promote government accountability and efficiency.
The evaluations would be posted on a state website and would also consider incentives’ economic impact and effects on other businesses, along with the impact on the state budget. Incentives to be evaluated would include tax credits, exemptions, abatements, grants, loans and loan guarantees.
The bill was sent to the Senate for consideration next.
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