Bill > S1810

This bill aims to sunset (expire) tax expenditures created or renewed after January 1, 2022 on December 31 of the third complete taxable year after their creation or renewal. It provides the Commissioner of Revenue with the authority to issue regulations to implement these expirations. Additionally, for any tax expenditure created or renewed after January 1, 2022 that does not have a clear statement of intent, the Secretary of Administration and Finance is required to promulgate regulations that include the purpose, desired outcomes, measurable goals, and identified beneficiaries of the tax expenditure. The bill also lists specific tax expenditures in various sections of the General Laws that will expire on December 31 of the third complete taxable year after the effective date of this act, unless they have an existing earlier expiration date.