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Saturday
Jun142014

Josiah Bartlett Center - Budget Problems and Mismanaged Tax Credits 

Weekly Update from the
Josiah Bartlett Center

Keeping you up to date on our latest research
on the issues impacting New Hampshire
 

The state may or may not face a budget crisis depending on who you believe. In the face of what she thinks is a crisis, the governor imposed the mildest of spending restrictions on every part of state government. Until we know the problem better, she decided to impose the time honored first step: a freeze on new hiring and out-of-state travel. It doesn’t save much money in the short term but it’s symbolic. Click here to keep reading


As reported in the Nashua Telegraph, a Legislative audit of the Division of Economic Development, within the Department of Resources and Economic Development found that in 2011 and 2012, $875,750 was improperly given out as tax credits, while an additional $121,000 worth of tax credits were not given to business that were eligible to receive them. This mismanagement accounts for nearly half of all the tax credits granted by the Division. The specific programs in question are the Economic Revitalization Zone (ERZ) tax credit and the Coös County Job Creation (CCJC) tax credit. Click here to keep reading

 

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