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2012 SESSION

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HB 246 Legislation; prohibits any committee of General Assembly from reporting new state tax credit, etc.

Introduced by: Benjamin L. Cline | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Sunset provisions on state tax credits.  Prohibits any committee of the General Assembly from reporting a new state tax credit or renewing an existing state tax credit unless such bill contains an expiration date of not longer than five years from the effective date of the new or renewed state tax credit.

SUMMARY AS INTRODUCED:

Sunset provisions on state tax credits and estimates of revenue loss by state Tax Commissioner.  Prohibits any committee of the General Assembly from reporting a new state tax credit or renewing an existing state tax credit unless such bill contains an expiration date of not longer than five years from the effective date of the new or renewed state tax credit. Requires the State Tax Commissioner to report annually the estimated revenue loss of each state tax credit that is scheduled to expire in the next two calendar years.