HB0145 - Phase Out Corporate Giveaways Act

• Creates the Phase Out Corporate Giveaways Interstate Compact allowing states and the District of Columbia to join an agreement prohibiting company-specific tax incentives or grants to entities relocating facilities from other member states.

• Prohibits member states from offering company-specific tax breaks or grants for corporate headquarters, manufacturing facilities, office space, or real estate developments already located in other member states as relocation incentives.

• Excludes from the prohibition: workforce development grants for employee training, local government incentives, and incentives to retain or expand facilities already operating within a member state.

• Establishes the Phase Out Corporate Giveaways Board composed of appointees from each member state's chief executive officer, meeting annually to publish suggested revisions to strengthen the compact each December.

• Allows member states to withdraw with six months' written notice to other member states and grants enforcement authority to state attorneys general and resident taxpayers.