On Saturday, Sen. David Frockt issued a statement in support of Senate Bill 6088. The bill, presented by Sen. Craig Pridemore, will require a review of the legislature's goals for tax preferences by requiring that every new tax preference provide an expiration date and statement of legislative intent.
“I rise in strong support of this bill and am very pleased to be a co-sponsor of it. We have over 600 tax preferences on the books in this state. Some are to the sales tax, some are to the B & O tax and some are to other areas. Clearly, action must be taken to ensure that these preferences serve a reasonable purpose and exists only as long as is necessary.
“I think this an excellent start and I know this is an area of very strong concern for many of my constituents. I believe we should go further and a lot of these preferences should be put on budget at a certain point in time. But for now, including an expiration date or an automatic expiration date of five years when none is provided in the bill is a very good start to get us to review these over time. It’s an excellent bill and I urge the body’s support.”
The bill was approved by the Senate and now moves to the House of Representatives.