Today, Senator Richard J. Codey (D-27) released the following statements regarding the Office of the State Comptroller’s audit of EDA Incentive Programs, in addition to forwarding a letter to Attorney General Gurbir Grewal requesting a full investigation.
“The results of the recently released report from the Office of the State Comptroller, ‘A Performance Audit of Selected State Tax Incentive Programs,’ reveal a pattern of failure and dereliction of duty,” said Codey. ” I think it is clear that a full investigation into not only all of our state’s incentive programs, but EDA itself, is warranted. The lack of basic management, oversight, and accounting uncovered in this audit is shocking.
“The EDA’s incentive programs seem to have been spending taxpayers’ money more freely than a Kardashian on a shopping spree,” Codey added. “It is disturbing, but not surprising, that without follow up or oversight a climate where disregard for the rules and even fraud has become commonplace. Some recipients haven’t filed reports, and even among those that did, instances of possible fraud were found. We cannot just write a check and rely on recipients to meet program requirements without any kind of monitoring.
“If an individual taxpayer or small business showed such little regard for meeting their tax obligations, they would be held responsible and made to settle their debts. The corporations that have manipulated these programs should be held to the same standard. All efforts should be made to hold them accountable for any funds owed or subject to return based on failure to meet award terms.”