SB 56: Transparency in Local Economic Development

This bill passed the Senate and House unanimously. 

Libertas Institute supports this bill

Staff review of this legislation finds that it is aligned with our principles and merits support.

In the past, Libertas Institute has written about local tax exemptions that are given to new and existing companies in Utah. While the pursuit of economic development is not inherently a bad idea, the policies used to draw companies to a specific area can sometimes be suspect. Poor decisions are made to chase after retail businesses or to chip away at the local property tax base that funds local schools.

There’s also the matter of transparency; many Utahns have no idea how and when elected officials are handing out tax exemptions to favored businesses. A new website has been developed by Salt Lake County that transparently lists all tax incentive proposals, past and present, $1.3 billion in all. Every county in Utah should be just as transparent regarding their economic development projects, especially since these decisions affect the tax base so greatly.

Senator Deidre Henderson’s Senate Bill 56 aims to do that by requiring all counties to have a similar website available to the public. It’s a straightforward and basic level of transparency that has been sorely lacking in recent years. When something involves taxpayer dollars, then it should be relatively simple for any taxpayer to learn more about it.

About the author

Libertas Institute Staff

Share Post:

Fighting for a Future Where Individuals Are Fully Liberated to Pursue Their Dreams, Free from Coercion and Control.

You Might Also Like

This bill reduces barriers to entry in the cosmetology and beauty industry while maintaining consumer choice.
This bill ensures that Utah’s medicinal psilocybin and MDMA pilot program can move forward by allowing qualified healthcare providers to participate after the initial healthcare systems declined to do so.
This bill provides for improved guardrails and oversight of automatic license plate readers used and accessed by law enforcement and transportation management.

Help us Nail and Scale Policies to Reduce Government Control

Your tax-deductible contributions to Libertas Institute increase freedom across the country.

Libertas Institute
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.