Bill > H4063

This bill aims to sunset (or automatically expire) tax expenditures, which are provisions in the tax code that provide special tax treatment or credits to certain groups or activities. Specifically, the bill states that any tax expenditure created or renewed after January 1, 2019 will automatically expire on December 31 of the third complete taxable year after its creation or renewal. Additionally, the bill lists over 40 existing tax expenditures that will expire on December 31 of the third complete taxable year after the effective date of the bill, unless they have an earlier existing expiration date. The bill also requires the Commissioner of Revenue to issue regulations to implement these expirations, and the Secretary of Administration and Finance to promulgate regulations containing statements of intent for any new tax expenditures, including their desired outcomes, measurable goals, and identified beneficiaries.

Budget and Finance

https://malegislature.gov/Bills/190/H4063