The U.S. government is having a record year collecting big fines from companies. Part of that success comes from a Civil War era law that rewards whistle-blowers for exposing corporate fraud.
Gilbert Public Schools Board To Vote On Apple Tax Break
The Gilbert Public Schools board is scheduled to vote Monday night on a tax break to Apple. The vote could determine if Apple will open a manufacturing plant in Mesa.
Seven other government agencies have already signed off on the proposal that would lower the company’s tax rate. Apple’s plans call for an investment of about $1 billion in the plant, in addition to the $79 million it would pay for the property. Even though the company would pay a lower tax rate, the manufacturing facility would generate millions of dollars in taxes for local cities, school and other taxing districts.
Two of the Gilbert School board members initially opposed the tax break, while two others favored it, now one of the opponents, board member Julie Smith says she is leaning toward supporting the project. She says she is reserving the right to change her vote though.
According to the proposal all eight taxing agencies must approve the lower tax rate or Apple would not be eligible for the lower rate, and the company might decide to move elsewhere.
EDITOR'S NOTE: This story has been updated to reflect Julie Smith says she is leaning toward supporting the project.
Updated 11/18/13 at 9:05 a.m.