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GA SB302
Bill
Status
Engrossed
2/24/2020
Primary Sponsor
John Albers
Click for details
AI Summary
- Cited as the "Tax Credit Return on Investment Act of 2020," the bill requires economic analyses of tax benefits to include good faith estimates over five years of net changes in state revenue, state expenditures, economic activity, and any public benefit, on both a direct and indirect basis.
- The chairperson of the House Committee on Ways and Means and the chairperson of the Senate Finance Committee may each request up to five economic analyses per year, submitted to the Office of Planning and Budget by May 1, with completed analyses due by December 1.
- Each request must be limited to a single existing or proposed tax provision, specifying one particular exemption, exclusion, deduction, credit, deferral, rebate, abatement, or preferential tax rate to be analyzed.
- The Office of Planning and Budget may contract with independent auditors to complete the analyses, and completed reports must be provided to the House Budget and Research Office and the Senate Budget and Evaluation Office.
- If a fiscal note is requested for legislation and a relevant economic analysis has been completed within the prior year, the Office of Planning and Budget may attach a summary of that analysis to the fiscal note.
Legislative Description
"Tax Credit Return on Investment Act of 2020"; independent economic analyses; provide; enact
Last Action
House Withdrawn, Recommitted
3/4/2020
Full Bill Text
No bill text available