CSSB 29(STA) - Alaska Tax Break Transparency Act

• Legislature must include a statement of rationale and purpose in bills creating tax expenditures.

• Legislative finance division shall analyze tax expenditures exceeding $1,000,000 annually, with existing expenditures analyzed once between July 1, 2015 and June 30, 2020, and new expenditures analyzed after seven years in effect or one year before delayed repeal.

• Department of Revenue must annually publish a revenue and tax expenditure report including statutory authority, annual sums, number of benefiting taxpayers, current year estimates, and administration costs for each tax expenditure type.

• Governor's fiscal plan must consider issues raised by the Department of Revenue's tax expenditure report.

• Sections 1-2 take effect immediately; Sections 3-7 take effect July 1, 2015.