On the House calendar for “concurrence” on the opening day of the short session: two thick slices of political pork ? House Bill 530 (Life Sciences Development Act) and House Bill 713 (Expand Film Credit).
The first would, as Becki Gray described last August, “creates a non-profit entity under the Biotech Center that makes loans to biotech start up companies funded by Golden Leaf money and private investors guaranteed by the taxpayer.” Yep, Golden LEAF would put up the front money to fund fledgling and risky investments in biotech firms, leaving taxpayers on the hook for any losses if these new businesses fail.
The second would increase the state’s tax credit for film production from 15 percent to 25 percent.
It’s possible, perhaps likely that the House will not concur with the bills as now written and instead will kick them back to committees for further tinkering.
But at a time the state is scrambling to close a budget deficit and voters are outraged over insider deals and political pork, it appears that corporate welfare remains popular in the halls of the General Assembly.