Bill > S1607

This bill aims to sunset (or expire) tax expenditures, which are provisions in the tax code that provide special deductions, credits, or exemptions. The key provisions are: 1) Any tax expenditure created or renewed after January 1, 2020 will expire on December 31 of the third complete taxable year after its creation or renewal, unless it has an earlier expiration date. The Commissioner of Revenue has the authority to issue regulations to implement these expirations. 2) For any new tax expenditure created or renewed after January 1, 2020 that does not have a clear statement of its purpose and objectives, the Secretary of Administration and Finance must promulgate regulations containing such a statement, including the desired outcomes, measurable goals, and identified beneficiaries. 3) The bill also lists specific tax expenditure provisions in existing law that will expire on December 31 of the third complete taxable year after the effective date of this act, unless they have an earlier expiration date. The overall goal of the bill is to introduce greater transparency and accountability around tax expenditures in Massachusetts by requiring them to expire periodically unless affirmatively renewed, and by mandating clear statements of their purpose and objectives.

Budget and Finance

https://malegislature.gov/Bills/191/S1607