HB 132 Summary

• Establishes the Interstate Compact to Phase Out Corporate Giveaways as an anti-poaching agreement among two or more states and the District of Columbia.

• Prohibits member states from offering company-specific tax incentives or grants to entities relocating existing facilities from another member state.

• Excludes workforce development grants, local government incentives, and state incentives for facilities located within the offering state from the prohibition.

• Creates a national board composed of gubernatorial appointees that shall publish suggested revisions to the compact annually in December to phase out additional corporate giveaway forms.

• Allows member states to withdraw with six months' written notice and grants taxpaying residents standing to enforce the compact in member state courts; takes effect when adopted by two or more states.