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Attorney general's office will investigate fraud in state tax credit program

November 12, 2003
By: Zack Ottenstein
State Capital Bureau

The state attorney general's office says it will investigate allegations of tax fraud in a state tax credit program.

Zack Ottenstein reports from Jefferson City.

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The announcement was made at a hearing held to look into state tax credit programs.

The Joint Committee on Tax Policy held the hearing Wednesday as a first step in a process to evaluate whether the programs are worthwhile.

Sen. Republican Floor Leader Mike Gibbons, who chairs the committee, says the state paid out approximately 300 million dollars in tax credits last year.

Gibbons says the result could be less tax credits in the future.

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Contents: Gibbons says the committee is going to look to eliminating programs that don't measure up.

Gibbons says he expects legislation to be introduced enabling lawmakers to make sure programs aren't being abused.

From the state Capitol, I'm Zack Ottenstein.

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After reports of fraudulent claims in a state tax credit program, the attorney general's office has announced it is conducting an invenstigation.

Zack Ottenstein reports from Jefferson City.

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The announcement was made during a Joint Committee on Tax Policy hearing.

The hearing marks the beginning of a process to look into the value of state tax credit programs.

Senate Republican Floor leader Mike Gibbons, who chairs the committee, says the investigation will also help lawmakers decide what to do with state tax credit programs.

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Contents: Gibbons says if the programs are wasteful changes need to be made legislatively, and the investigation will help lawmakers see what they will do next.

Gibbons says the state paid out approximately 300 million dollars in tax credits last year.

From the state Capitol, I'm Zack Ottenstein

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During a hearing looking into state tax credit programs, Department of Economic Development Director Joe Driskill says his department is not asleep at the switch.

Zack Ottenstein reports from Jefferson City.

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The announcement was made at a Joint Committee on Tax Policy hearing....After reports surfaced that phantom businesses have been created to abuse one state tax credit program under Driskill's department.

The hearing marks the beginning of a process to evaluate state tax credit programs.

Driskill says that his program is not funded enough to properly oversee its tax credit programs.

But, Senate Republican Floor Leader Mike Gibbons says the problem goes beyond funding.

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Contents: Gibbons says we need to do more things than hire more employees.

Gibbons says the state paid out approximately 300 million dollars in tax credits last year.

From the state Capitol, I'm Zack Ottenstein.