Bill > S1549

This bill aims to ensure the efficacy of corporate tax expenditures in Massachusetts. It requires the Department of Revenue to conduct performance audits on all corporate tax expenditures, including tax exclusions, deductions, deferrals, credits, and tax rates established for the purpose of recruiting or retaining businesses. The audits will evaluate whether the tax expenditures are accomplishing their intended purpose, analyze their economic costs and benefits, compare them to similar programs, and assess their fiscal impact on local governments. The Department must develop a multi-year schedule to review each corporate tax expenditure at least once every three years and present the audit results annually to the legislative committees overseeing revenue.

Budget and Finance

https://malegislature.gov/Bills/190/S1549