HP0792, LD 1069, item 1, An Act To Amend the Tax Expenditure Review Process

An Act To Amend the Tax Expenditure Review Process

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 3 MRSA §999, sub-§4, as enacted by PL 2015, c. 344, §4, is amended to read:

4. Action by policy committee. The policy committee shall review the results of the tax expenditure evaluations and of the committee's review based on materials submitted under subsections 2 and 3. By December 1st of each year, beginning in 2017, the The policy committee shall submit to the Legislature by the later of 90 days after receipt of materials submitted under subsections 2 and 3 and the adjournment sine die of the regular session during which the materials were received, if applicable, a report documenting its activities under this chapter and any recommendations resulting from its review of the materials submitted under subsections 2 and 3. The policy committee may submit a bill to the next regular session of the Legislature to implement the policy committee's recommendations.

Sec. 2. 3 MRSA §1000, sub-§§2 and 3, as enacted by PL 2015, c. 344, §4, are amended to read:

2. Action by the office. By July 1st in 2016 to 2018 and by December 15th of each year , beginning in 2016, 2019 the office shall collect, prepare and submit to the policy committee the following information to support the expedited reviews under subsection 1:

A. A description of the tax policy under review;

B. Summary information on each tax expenditure associated with the tax policy under review, including:

(1) A description of the tax expenditure and the mechanism through which the tax benefit is distributed;

(2) The intended beneficiaries of the tax expenditure; and

(3) A legislative history of the tax expenditure; and

C. The fiscal impact of the tax policy and each related tax expenditure, including past and estimated future impacts.

3. Report by policy committee; legislation. By December March 1st of each year, beginning in 2016 2020, the policy committee shall submit to the Legislature a report on the results of the expedited reviews conducted pursuant to subsection 1 that year. The policy committee may submit a bill related to the report to the next regular session of the Legislature to implement the policy committee's recommendations.

summary

This bill changes dates for the submission to the Legislature of tax expenditure reports by the joint standing committee of the Legislature having jurisdiction over taxation matters and the date for submission to the committee of certain materials by the Office of Program Evaluation and Government Accountability. These changes are made to accommodate previous reporting changes made with regard to full evaluations of tax expenditures and to facilitate a more efficient review of all tax expenditure provisions.

HP0792 LD 1069	Session - 129th Maine Legislature		LR 614 Item 1
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