By Jeremy Duda | Arizona Capitol Times
Opponents of the targeted tax credits and incentives that have become increasingly popular at the Capitol are hoping the bankruptcy of a company that was slated to receive massive tax breaks under a 2014 bill will make lawmakers think twice in the future.
The Legislature in April passed SB1484, which granted a $1 million annual tax credit for five years to manufacturers that invest at least $300 million in renewable energy production for their facilities. Though proponents argued that numerous companies could avail themselves of the tax credit, many lawmakers on both sides of the debate viewed it as the “Apple bill” due to the massive benefits that would go to the Mesa factory where GT Advanced Technologies was to make synthetic-sapphire glass for Apple products.
