Senate bill would expose companies that take tax breaks, then relocate

[private]Legislation has been introduced in the state Senate that would publicly expose companies who accept tax breaks and financial incentives from the government and then decide to relocate their business out of state.

Sen. John Albers (R-Roswell) said that SB 195 is intended to “shine a light” on these companies and possibly encourage them to keep the jobs in Georgia.

“If they’re going to get a special incentive or tax break, we want to keep the jobs here,” Albers said.

SB 195 would require all businesses that receive tax breaks or incentives from the state or local governments to give the Department of Economic Development commissioner at least 120 days notice if they decide to relocate to another state. The requirement would only apply to businesses that employ at least 50 people.

The commissioner would be required at six-month intervals to compile a list of these employers and transmit the list to the governor, the lieutenant governor, the House Speaker, the House clerk, and the secretary of the Senate.

The House clerk and the Senate secretary would forward the list to each legislator by email. The economic development commissioner would also transmit the list to each state agency and local government that provides employers with any grants, loans, or tax credits.

The bill does not require relocating employers to forfeit or pay back their tax breaks if they move.

“It’s not punitive, however, we can shine a light on it,” Albers said. “That might compel someone to think twice before they ship jobs out of Georgia.”

Albers said he already has 38 co-signers on SB 195, 22 of them Republican and 22 Democrats.

© 2017 by The Georgia Report

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Tags: corporate tax breaks and incentives , John Albers , relocating companies