GA SB206

Requires the Governor to include a tax expenditure review as part of the annual budget report submitted to the General Assembly

Defines "tax expenditure" as any statutory provision exempting specific classes of persons, income, goods, services, or property from state taxes, including deductions, credits, exclusions, preferential rates, and exemptions, as well as state tax proceeds spent on homeowner tax relief grants or local government assistance grants

Each tax expenditure review must detail the amount of tax revenue foregone for at least three years (prior year, current year, and at least one future year estimate), along with the legal authority for each expenditure and the year it was enacted or became effective

The review must include a statement of each tax expenditure's intended objective, an analysis of whether it is achieving that objective, and its effect on the distribution of the tax burden and administration of the tax system, covering all state taxes collected by the Department of Revenue

The Office of Planning and Budget is permitted to contract out the preparation and analysis of the tax expenditure review, and the Act takes effect upon the Governor's approval