EDITORIAL
Openness will improve high-tech tax credit law

We commend continued efforts to salvage Act 221, the state's high-tech tax credit law. This is one fruitful economic development incentive that needs tweaking rather than a complete overhaul.

One proposal that would certainly answer the concerns of some critics is a bipartisan move to make public the names of businesses claiming high-tech credits under the law.

That seems fair enough. Policy-makers can only monitor the success or failures of the program if they know who's getting the credits and for what.

And ultimately, taxpayers are footing the bill and deserve to know who's benefitting. Besides, we're not asking these companies to open their books or show us their tax returns.

We just want to know how the credits are being used, and if they're helping the economy — in short, clear measurement of both costs and benefits.

Also, transparency would go a long way in instilling confidence that the law is not being played as an insider game.

We look forward in this legislative session to a new and improved Act 221 that continues to attract new businesses to our tech-hungry shores.

These and other proposed modifications to Act 221, such as an extension of its life, should be accomplished quickly. Lawmakers should not wait until the end of session to complete these needed changes.