State: $210M in tax credits awarded in ‘13
Taxes are a given. But how tax dollars are spent is not. In an attempt to make government spending more transparent, the state released its annual report on $210 million in tax credits that were granted last year.
“This report provides taxpayers with an overview of the $210 million worth of tax credits that were administered last year,” Revenue Commissioner Amy Pitter said in a statement. “It is important to provide taxpayers with information on how their tax dollars are being spent, and publishing this report is just a part of the Administration’s transparency effort.”
Among the $210 million in awards statewide, Central Massachusetts organizations were awarded more than $5 million in historic rehabilitation tax credits, more than $120,000 in brownfields credits, with more in additional credits for low-income housing, life sciences investment and research and others.
This is the third year the Department of Revenue (DOR) has published the names of recipients, and the credits they were awarded under tax credit programs, under a 2010 law requiring agencies to report them.
The tax credit programs included in the report are for: film, historic rehabilitations, low-income housing, brownfields, medical device companies, dairy farmers, life sciences tax incentives (including credits for investment taxes, user fees and research), economic development incentives, certified housing developments and conservation land.
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