SB 735
Requires mandatory review and sunset of certain tax credit programs
LR Number:
Last Action:
1/10/2008 - Second Read and Referred S Ways & Means Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2008

Current Bill Summary

SB 735 - This act requires the Joint Committee on Tax Policy to review all state tax credit programs which are not currently subject to a sunset. The joint committee is required to report its findings to the general assembly. Effective December 31, 2013, no tax credits, authorized under programs which are not subject to a sunset, may be issued unless the general assembly adopts a concurrent resolution approving and re-authorizing such tax credit program after it has been reviewed by the joint committee, or a general law is enacted modifying provisions of such tax credit program. Any tax credit program re-authorized in accordance with this act will be deemed a new program and thus subject to a six year sunset provision.