A brief fromJan 2015Getty Images Seb Oliver ID: 886467
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1 OverviewFrom 2012 to 2014, 10 states and
OverviewFrom 2012 to 2014, 10 states and the District of Columbia passed laws that will require regular evaluation of ec
2 onomic development tax incentives or wil
onomic development tax incentives or will improve existing evaluation processes. These laws stand to provide lawmakers w
3 ith hard evidence on the outcomes of the
ith hard evidence on the outcomes of their incentives, information they can use to shape policies that obtain the best p
4 ossible results for the states’ tax
ossible results for the states’ taxpayers and economies. To see which states have enacted evaluation laws since the
5 start of 2012, visit pewtrusts.org. A n
start of 2012, visit pewtrusts.org. A number of additional states are considering similar actions.This report advises s
6 tates on how to design and implement the
tates on how to design and implement these laws, so that tax incentives are evaluated regularly and rigorously and so th
7 at lawmakers can use the ndings to
at lawmakers can use the ndings to improve economic development policy. Building on the best practices developed in
8 the 11 jurisdictions and elsewhere, the
the 11 jurisdictions and elsewhere, the recommendations focus on three steps states should take to improve the accounta
9 bility and performance of their tax ince
bility and performance of their tax incentives:Make a plan: Determine who will evaluate, when, and how.Measure the impac
10 t: Assess the results for the state’
t: Assess the results for the state’s economy and budget.Inform policy choices: Build evaluation into policy and bu
11 dget deliberations.Tax Incentive Program
dget deliberations.Tax Incentive Programs Evaluate today, improve tomorrow A brief from Jan 2015 Getty Images /Seb Olive