Comptroller Kevin Lembo is resurrecting a bill aimed at improving the state’s analysis economic incentives — a bill Gov. Dannel P. Malloy vetoed last year.
The legislation is similar to the previous proposal approved by both the House and Senate in 2016, Lembo said.
Lembo believes the law is necessary to fully assess whether the state is deploying economic incentives in a way that ensures the maximum benefit for all businesses and the broader state economy.
The proposal would authorize the state Auditors of Public Accounts to establish a professional advisory committee to evaluate economic incentives. The scope of evaluation would be expanded to include all business incentive programs, including tax credits, tax abatement, loans, grants, and any other business assistance meant to encourage economic development, Lembo said.
