Report: Fiscal impact of tax breaks kept confidential
Tom Humphrey reports in his Humphrey on the Hill blog about a report to the state's Fiscal Review Committee last week that highlights an inability to measure the cost of tax breaks because of a confidentiality exemption regarding tax records. The exemption, T.C.A. 67-1-1702, makes confidential "returns, tax information and tax administration information" and prevented the committee's staff from checking on whether cost of a tax break was accurately predicted when legislation creating the tax break passed. From the blog, "Impact of tax breaks kept confidential": The confidentiality granted state Department of Revenue records prevents legislators from learning whether the estimates used in adopting tax credit legislation are accurate, the executive director [...]