breaking news
State economic development officials argue
that the Clinton Presidential Foundation should not receive tax
breaks because the foundation is not a business.
The foundation is suing to get 3.5 million
dollars in tax breaks for construction of the Clinton Presidential
Library.
The state attorney general`s office filed court papers yesterday
saying the foundation does not qualify as a "business enterprise"
and thus, under the law, should not receive the incentives.
The foundation is building the 160 (m) million dollar Clinton
Presidential Center near downtown Little Rock.
The foundation argued in court papers that the library project
has led to 800 million dollars in new downtown development and
that the foundation meets all of the law`s requirements --
including that it be a corporate headquarters, create at least 25
new jobs and have no retail sales.
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