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...guidance lies ahead.
In economic development circles, the takings power (eminent domain) may have taken over the headlines in 2005, but incentives were still hot as a firecracker. Upcoming decisions and debate by the judicial and legislative branches will heat things up more--and perhaps provide clarity for both states and corporations.
Court decisions will continue to figure prominently in legislative decisions. Some have pointed to property rights as the most significant subject of cases before the Supreme Court. That includes the court's decision to consider the Curio v. DaimlerChrysler case. A U.S. Sixth Circuit panel in 2004 found that certain tax incentives for DaimlerChrysler expansions in Toledo, Ohio, were unconstitutional and refused to hear an appeal in early 2005. On Sept. 27, 2005, the case officially made its way onto the Supreme Court's docket.
A national measure seeking to affirm states' rights to offer their own tax incentives for economic development was expected to be heard by a Senate committee last fall. But it is now expected to stay in committee until after the Supreme Court makes a decision, despite chief sponsor Sen. George Voinovich's September 2005 pleas to the contrary:
"I believe that the Congress must pass The Economic Development Act of 2005 this year regardless of how the Supreme Court decides the Cuno case," he said. The measure is backed by every senator in the Sixth Circuit, several governors, the National League of Cities,...
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