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Message
re: LA HB 461 - (Government proposal to hide records from public)
Posted on 4/5/24 at 12:42 pm to TigerDog83
Posted on 4/5/24 at 12:42 pm to TigerDog83
Two responses to this bill:
1) This exception already exists for LED, so it’s not a completely new idea.
2) The bill goes too far to fill a gap that absolutely needs to be filled. I’ve worked on municipal economic development projects, and they are HARD to work on. Companies have a disincentive to share information about their business, including its financials or operating documents, because they are immediately public (even if no deal happens). It hamstrings all sides. But I think once a deal is signed, the records should be public except for any confidential business information. Allow the parties room to negotiate, but make them public at the end.
1) This exception already exists for LED, so it’s not a completely new idea.
2) The bill goes too far to fill a gap that absolutely needs to be filled. I’ve worked on municipal economic development projects, and they are HARD to work on. Companies have a disincentive to share information about their business, including its financials or operating documents, because they are immediately public (even if no deal happens). It hamstrings all sides. But I think once a deal is signed, the records should be public except for any confidential business information. Allow the parties room to negotiate, but make them public at the end.
This post was edited on 4/5/24 at 12:58 pm
Posted on 4/5/24 at 1:33 pm to FalseProphet
quote:
2) The bill goes too far to fill a gap that absolutely needs to be filled. I’ve worked on municipal economic development projects, and they are HARD to work on. Companies have a disincentive to share information about their business, including its financials or operating documents, because they are immediately public (even if no deal happens). It hamstrings all sides. But I think once a deal is signed, the records should be public except for any confidential business information. Allow the parties room to negotiate, but make them public at the end.
If public money is being used (either direct grants, tax credits, or forgiveness / release from paying certain taxes), then it needs to be public record.
I understand the companies may not want certain info released, and I also beleive there are probably plenty of company records that are not germain to the deal.
But if a company wants to take public money, then it should be open.
If a company doesn't want to have those conversions be public, then don't take public money.
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