Monday, March 09, 2009

The Usual

While the legislature does little in the way of campaign and ethics reform and gets away with, some legislators are upset that some large development companies are seeking passage of a Tax Increment Development District Bill. This would redirect tax revenues generated by the project back to the developers to build the infrastructure required for the development. There are arguments to both sides of this issue. I haven't taken a position on the issue much to the chagrin of some progressives. I am not convinced it is a totally bad thing.

Sunday, the media made a big deal out of the fact that the developers had contributed 62 thousand dollars to legislators. I had to chuckle about that when I compare it to the hundreds of thousands that the oil and gas industry has contributed to their candidates for legislature, the State Land Commissioner and the Republicans Party. The developers donations look like small potatoes.

What is amazing about this is the legislature, if they passed meaningful campaign and ethics reform would stop most of this campaign money controversy cold in its tracks.

1 comment:

LC Bob said...

Greetings -

Please understand the way TIDDs work for the big developers.

The TIDD State Law requires nothing whatsoever of SunCal and other TIDD recipients, in return for the hundreds of millions of dollars of state and county money they will receive if the TIDDs are approved.

When the legislators vote to give them that money, they literally give it away, with only hopes for anything to come back.

TIDD funds build roads and public infrastructure - they have nothing whatever to do with jobs. By decreasing the cost of the development for SunCal, the TIDD funds just go straight to their bottom line.

That's all. It's pure subsidy, and if jobs come, it has nothing to do with TIDD funding. If jobs do NOT come, the developer does not have to give the money back, does not suffer any penalty.

It's too late to take back the Senate votes on this vital issue, but it would be well if it does pass the House.

Best regards/Bob Hearn
Las Cruces