CA SB956

Establishes the California Tax Expenditure Review Board as an independent advisory body composed of five members (Controller, Legislative Analyst, State Auditor, Director of Finance, and a tax administration expert) to assess major tax expenditures and recommend changes to the Legislature.

Requests the University of California to conduct a comprehensive, peer-reviewed assessment of major tax expenditures by July 1, 2022, including legislative intent, beneficiaries, affected entities, General Fund costs, economic impacts, and options for modification.

Requires the Franchise Tax Board or California Department of Tax and Fee Administration to provide relevant taxpayer data to UC while maintaining appropriate data security and privacy protections.

Directs the board to vote on recommendations within two months of receiving UC's assessment (requiring three votes to recommend), and to submit a compiled report to the Legislature by January 1, 2023, with copies to four specified legislative committees.

Requires the Senate Committee on Governance and Finance and Assembly Committee on Revenue and Taxation to hold a joint public hearing on the board's report by August 15 of the second legislative year; both sections become inoperative six months after this hearing and are repealed the following January 1.