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Subcommittee questions MEGA credits, SOAR site promises and MEDC transparency after document search
Summary
Representative Cara told the Oversight Committee that the Corporate Subsidies subcommittee is scrutinizing MEGA tax credits and SOAR/MEDC incentive packages for transparency and delivery shortfalls and is reviewing documents related to a contested $20 million grant.
Representative Cara, chair of the Corporate Subsidies and State Investments subcommittee, told the committee the subcommittee is reviewing the effectiveness, transparency and oversight of large state economic-development incentives administered or certified through the Michigan Economic Development Corporation (MEDC) and related programs.
Cara highlighted the MEGA tax-credit program, which began in 1995 and carries an estimated $9.4 billion total remaining liability for the life of the program; she told members that a small number of…
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