HB 446 Summary

• Establishes a Tax Expenditure Review Committee composed of seven members (two from each chamber of the legislature, one gubernatorial appointee, plus two ex officio nonvoting members from the tax commissioner and budget director) to systematically review all tax expenditures in Ohio law.

• Requires the committee to review all tax expenditures on a two-year cycle, with tax expenditures created before April 15, 2012 split between even and odd-numbered years, and those created after that date reviewed in the same parity year they were created.

• Mandates public hearings on each tax expenditure under review, with the tax commissioner and relevant state officials submitting detailed reports assessing the expenditure's purpose, public need, effectiveness, economic impact, revenue loss, and whether it should be repealed.

• Requires the committee to submit comprehensive appraisal reports by November 1 each year covering tax expenditures under review, including recommendations for modification or repeal and optional draft legislation for improvements.

• Specifies that future legislation creating tax expenditures must include the purpose served, review schedule, affected taxpayer classes, and methods to appraise effectiveness.