Incentive Transparency

S. 134Incentive Transparency

This bill would be a significant step toward ending the state’s secret incentives dealings. In line with a series of reforms recommended by the Policy Council in 2010, this bill would require all taxpayer-backed incentive agreements to be considered as standalone legislation, subject to a recorded vote on second and third reading, subject to public input during a mandatory waiting period, and subject to an independent analysis (not by a state employee). Further, this bill would implement a five-year sunset provision on all targeted incentives unless specifically renewed by the General Assembly in a public process. In an effort to create even more accountability, the bill also establishes reporting requirements and mechanisms on the back end of these deals to hold both the state and the businesses accountable.

Opening the state’s secret incentives process is among the top reforms we believe will restore the power back to the people of South Carolina.

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