Watchdog Says Some State Tax Credits Aren't Working - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Watchdog Says Some State Tax Credits Aren't Working

Posted: Updated:

RICHMOND, Va. (AP)- The Virginia General Assembly's watchdog agency has found that two tax credit programs meant to retrain workers and promote telecommuting are busts and need to be eliminated.

The Joint Legislative Audit and Reviews Commission said in a report released Monday that the state's Worker Retraining Tax Credit and the Telework Expenses Tax Credit are producing negligible returns.

The retraining credit returned 12 cents to the state's economy for every dollar spent. The telework credit returned 4 cents for every dollar spent.

The commission found that other efforts at economic development, like small business loan programs, have a much higher economic benefit for the state.

Lawmakers and Gov. Ralph Northam's administration say they are interested in reforming the state's economic development incentive programs. 

  • Virginia News</span><div style="float:right"><a href="/global/Category.asp?C=185257">More &gt;&gt;</a></div><span>Virginia NewsMore>>

  • Updated: Supreme Court Agrees to Hear Deadly DC Sniper Shootings Case

    Supreme Court Agrees to Hear Deadly DC Sniper Shootings Case

    Monday, March 18 2019 10:45 AM EDT2019-03-18 14:45:48 GMT
    Monday, March 18 2019 1:41 PM EDT2019-03-18 17:41:06 GMT
    In this Oct. 20, 2003, file photo, Lee Boyd Malvo listens to court proceedings during the trial of fellow sniper suspect John Allen Muhammad in Virginia Beach, Va. (Photo: AP)In this Oct. 20, 2003, file photo, Lee Boyd Malvo listens to court proceedings during the trial of fellow sniper suspect John Allen Muhammad in Virginia Beach, Va. (Photo: AP)
    In this Oct. 20, 2003, file photo, Lee Boyd Malvo listens to court proceedings during the trial of fellow sniper suspect John Allen Muhammad in Virginia Beach, Va. (Photo: AP)In this Oct. 20, 2003, file photo, Lee Boyd Malvo listens to court proceedings during the trial of fellow sniper suspect John Allen Muhammad in Virginia Beach, Va. (Photo: AP)
    The Supreme Court on Monday agreed to consider Virginia's plea to reinstate the life-without-parole sentence of a man who as a teenager participated in sniper shootings that terrorized the Washington, D.C., region in 2002.More
    The Supreme Court on Monday agreed to consider Virginia's plea to reinstate the life-without-parole sentence of a man who as a teenager participated in sniper shootings that terrorized the Washington, D.C., region in 2002.           More
  • Virginia County Approves Amazon Incentives Despite Protests

    Virginia County Approves Amazon Incentives Despite Protests

    Monday, March 18 2019 9:13 AM EDT2019-03-18 13:13:31 GMT
    Monday, March 18 2019 9:13 AM EDT2019-03-18 13:13:31 GMT
    (Photo: AP)(Photo: AP)
    (Photo: AP)(Photo: AP)
    Protesters repeatedly shouted "shame" as a northern Virginia county board unanimously approved a $23 million incentives package for Amazon to build a new headquarters there.More
    Protesters repeatedly shouted "shame" as a northern Virginia county board unanimously approved a $23 million incentives package for Amazon to build a new headquarters there.More
  • Virginia Governor Vetoes Bill Opposing Cap-and-Trade

    Virginia Governor Vetoes Bill Opposing Cap-and-Trade

    Thursday, March 14 2019 1:17 PM EDT2019-03-14 17:17:32 GMT
    Thursday, March 14 2019 1:17 PM EDT2019-03-14 17:17:32 GMT
    Virginia Gov. Ralph Northam talks during an interview on Feb. 9, 2019. (Photo: AP)Virginia Gov. Ralph Northam talks during an interview on Feb. 9, 2019. (Photo: AP)
    Virginia Gov. Ralph Northam talks during an interview on Feb. 9, 2019. (Photo: AP)Virginia Gov. Ralph Northam talks during an interview on Feb. 9, 2019. (Photo: AP)
    Virginia Gov. Ralph Northam has vetoed legislation aimed at limiting his authority to institute a carbon cap-and-trade plan.More
    Virginia Gov. Ralph Northam has vetoed legislation aimed at limiting his authority to institute a carbon cap-and-trade plan.More
Powered by Frankly

All content © Copyright 2000 - 2019 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices