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SB20-021

Tax Expenditure Bill Requirements

Concerning certain requirements that must be included in a tax expenditure bill.
Session:
2020 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary

Tax Expenditure Evaluation Interim Study Committee. Current law requires a legislative declaration stating the intended purpose of a new tax expenditure or the intended purpose for extending an expiring tax expenditure. The bill expands that law by:

  • Requiring a statutory legislative declaration, not nonstatutory;
  • Requiring any bill that creates a new tax expenditure to include a repeal of the expenditure after a specified period of tax years and any bill that extends an expiring tax expenditure to extend the expenditure for a specified period of tax years; and
  • Requiring the statement of the intended purpose to be a part of a tax preference performance statement, which includes:
  • The classification of the type of the tax expenditure; and
  • Detailed information regarding the legislative purpose of the tax expenditure, which, at minimum, includes clear, relevant, and ascertainable metrics and data requirements that allow the tax expenditure to be measured for effectiveness in achieving the intended purpose.
    (Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. L. Court, Sen. J. Tate
Rep. A. Benavidez, Rep. M. Snyder

Sponsor

Sen. D. Moreno

Co-sponsor

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