Backers of House Bill 530, Life Sciences Development Act, are itching to score another fix of corporate welfare before the short session adjourns.
They’re passing around these talking points (PDF) to lawmakers.
Among my favorites:
? All funds in the loan pool will be provided by private investors through structured low-interest investments with assured rates of return [And giving a private company the power to tax (or reduce the taxes of) citizens.]
? The entire administrative structure, including the management of the loan pool, is designed to minimize the need for tax credits in lieu of investments returns [“Well, that’s how it was designed, anyway”]
? Vest ultimate control of the new nonprofit corporation in the Governor and Treasurer [Elected officials in charge of private companies. Just like Venezuela!]
Carolina Journal analyzed the bill in June.
