HCR 206 Summary

• Request the Department of Taxation to annually publish a comprehensive tax expenditure report detailing tax credits, deductions, and exemptions that reduce state revenue.

• Report must include descriptions, legal citations, enactment years, purposes, current costs, projected future costs, beneficiary details, and assessment of whether tax expenditures achieved their intended goals.

• Report must provide distribution analysis of benefits by income level and business size, and separate reporting for state and local revenue losses where applicable.

• Department of Taxation should model tax expenditure reports from Oregon, Minnesota, the District of Columbia, and other jurisdictions when developing the report.

• Annual tax expenditure report must be published no later than twenty days before each regular legislative session convenes.