Amended Substitute House Bill Number 9 Summary

• Creates a seven-member Tax Expenditure Review Committee composed of three House members, three Senate members (all appointed by legislative leadership with bipartisan representation), and the tax commissioner as a nonvoting member.

• Committee must establish an eight-year review schedule to periodically evaluate all existing tax expenditures and make recommendations on whether each should be continued, modified, scheduled for future review, or repealed.

• Committee shall meet at least once during the first year of each fiscal biennium and hold at least one public meeting for each tax expenditure reviewed, allowing citizens to submit evidence or testimony.

• Committee must submit biennial reports to the governor, legislative leaders, and the public by July 1 of each even-numbered year, with reports appended to the governor's budget.

• Requires the Department of Taxation to submit a tax expenditure report by November 1 of each even-numbered year detailing estimated revenues lost due to tax deductions, exemptions, credits, and other tax expenditures.