SB 5040 - DIGEST |
Requires the omnibus operating appropriations bill enacted by the legislature to include a section on the following: (1) All discretionary state tax expenditures together with an estimate of the state revenue impact associated with each expenditure; |
(2) The total estimated revenue impact from all discretionary state tax expenditures, total appropriations, and total state expenditures representing the sum of discretionary state tax expenditures and appropriations; and |
(3) The total state revenue impact from all nondiscretionary tax expenditures. |
Changes the duties of the department of revenue with regard to preparation and submission of a listing of the amount of reduction in the revenues of the state, or the revenues of local government collected by the state, as a result of tax expenditures. |
Requires the governor to prepare a tax expenditure report as part of the biennial budget documents. |