Bill > S1925

This bill seeks to implement several key provisions related to economic development tax credits in Massachusetts. It introduces a "sunset provision" that would require all existing tax incentive programs to be reauthorized by the legislature within one year, and any new tax incentive programs to include a sunset provision with an expiration date of up to three years. The bill also requires the Inspector General, in consultation with the Department of Revenue, to review and evaluate each tax incentive program before reauthorization, considering factors such as the program's effectiveness, revenue impact, and public policy outcomes. Additionally, the bill mandates the inclusion of "clawback provisions" in any law containing a sunset provision, allowing the state to recoup benefits from recipients who fail to meet stated goals and benchmarks. Finally, the bill requires the Governor to include specific details about new tax incentive proposals, such as the program's purpose, estimates of forgone revenue, and administration criteria, before submitting them for legislative approval.

Budget and Finance

https://malegislature.gov/Bills/192/S1925