Extends sunset period relative to confidentiality of certain company information from 2012 to 2016. (gov sig)
Impact
If enacted, SB171 would directly impact the transparency of state records related to economic negotiations. By extending the confidentiality period, the bill would prevent certain records from being accessed as public records for an additional four years. This aims to protect information that could be vital to ongoing negotiations, potentially leading to job creation and economic investment. However, this legislative change raises questions about the balance between transparency and the protection of sensitive business information.
Summary
Senate Bill 171 seeks to amend existing law concerning the confidentiality of certain company information during economic development negotiations in Louisiana. The bill aims to extend the sunset period of confidentiality provisions from July 1, 2012, to July 1, 2016. This extension applies to records held by the Department of Economic Development related to negotiations focused on retaining, expanding, or attracting business development within the state. Proponents of the bill argue that maintaining the confidentiality of sensitive information is crucial for fostering a competitive business environment and ensuring the state's attractiveness to potential investors.
Sentiment
The sentiment around SB171 seems to be primarily positive among those involved in economic development and business sectors, who view the bill as beneficial for attracting investment and ensuring that Louisiana remains competitive. Conversely, there may be concerns among transparency advocates regarding the implications of prolonged confidentiality, raising potential issues over accountability and the public's right to access government-held information.
Contention
Notable points of contention surrounding SB171 could center on its impact on transparency in government dealings. Advocates for openness may criticize the extension of the confidentiality period as a way to obfuscate citizens' ability to scrutinize government negotiations with private businesses. Conversely, supporters would contend that the confidentiality is essential for maintaining competitive advantages in attracting new business and retaining existing ones, highlighting the ongoing tension between transparency and economic development interests.
Repeals the termination date of an exception to the Public Records Law which provides for the confidentiality of certain Dept. of Economic Development records pertaining to negotiations with private entities
Provides for confidentiality of records and reporting of complaints against persons and entities subject to jurisdiction of the Department of Insurance. (gov sig)
Provides for the confidentiality of tax records, the definition of manufacturer for purposes of the tax credits for ad valorem taxes paid to local governments, and certain limitations. (gov sig) (Item #47) (EN +$57,000,000 GF RV See Note)