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GA HB920
Bill
Status
Introduced
2/7/2012
Primary Sponsor
Stacey Abrams
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AI Summary
- Amends Georgia Code Section 45-12-75 to expand the state's tax expenditure review, which is prepared by the Department of Audits and Accounts and included in the Governor's budget report.
- Authorizes the tax expenditure review to include a regularly produced annex analyzing specific tax expenditures, covering the original objective of each expenditure, whether it is meeting its stated purpose, its effect on tax system administration, and which persons, corporations, or entities directly benefit.
- Existing law already requires the review to detail forgone tax revenue over at least three years, cite legal authority, and note the enactment and effective dates of each tax expenditure.
- The Department of Revenue remains responsible for tracking and compiling tax expenditure data but is prohibited from imposing additional reporting requirements on taxpayers.
- The Act takes effect immediately upon the Governor's approval or upon becoming law without such approval.
Legislative Description
Budget reports; tax expenditure review; require certain items
Last Action
House Committee Favorably Reported
2/27/2012
Committee Referrals
Budget and Fiscal Affairs Oversight2/7/2012
Full Bill Text
No bill text available