S.B. 2153 - Summary

• Requires the Department of Taxation to submit a biennial report on all tax expenditures to the legislature by September 15 of each odd-numbered year, beginning in an unspecified year.

• Report must include detailed descriptions of each tax expenditure, statutory authority, original purpose and intent, actual or estimated revenue loss for the most recent fiscal year, and evaluation of whether each expenditure achieved its intended purpose.

• Evaluation component must assess cost-effectiveness, success as a policy tool, potential policy alternatives, and feasibility of repealing or continuing each tax expenditure.

• Requires all new tax expenditure legislation to include a repeal provision, evaluation or study requirement, recapture provisions for non-compliance, and measurable goals or objectives.

• Takes effect on July 1, 2017.