GA SB366

Requires the House Budget and Research Office and Senate Budget and Evaluation Office to distribute the Governor's budget report to all members of their respective chambers, including a list of all revenue sources, expected revenue amounts, and a summary of tax expenditures with descriptions, projected forgone revenue, and legal citations.

Mandates the Department of Audits and Accounts to complete at least 12 economic analyses annually, prioritizing income tax credits or sales and use tax exemptions exceeding $20 million that are set to sunset within two years; remaining analysis slots are split equally between the chairs of the House Ways and Means Committee and Senate Finance Committee, with requests due by April 15.

Expands the required content of each economic analysis to include an assessment of whether the provision is achieving its purpose, five-year revenue and expenditure projections, comparisons to other states, impacts of modifying or terminating the provision, ancillary impacts on public safety, education, and infrastructure, and recommendations for improving the state's return on investment.

Moves the completion deadline for economic analyses from December 1 to November 15 and requires the Department of Audits and Accounts to post the list of analyses on its public website with a mechanism for beneficiaries to submit relevant information.

Replaces the one-time joint legislative review of tax credits, deductions, and exemptions (previously due by December 1, 2023) with an annual joint meeting of the House Ways and Means Committee and Senate Finance Committee by January 31 to review all completed economic analyses from the prior year. Effective January 1, 2025.