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Altaf Rahamatulla on October 7, 2010 - 12:47pm
Last month, California Gov. Arnold Schwarzenegger vetoed AB 2666, a strong bill sponsored by Asm. Nancy Skinner that would have required the state's Franchise Tax Board to compile information on corporate tax expenditures and publish the information on California's Reporting Transparency in Government website. The Governor had previously spearheaded accountability reforms and repeatedly emphasized the right of California taxpayers to know where the state directs public funds, especially during an economic downturn. However, in defense of the veto, the Governor contends that the state already publishes annual reports on certain expenditures and claims the legislation would place an undue burden on business.