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30BDA7C20CB7C1068725872C006FC6EA Hearing Summary




PUBLIC
BILL SUMMARY For INTRODUCTION TO TAX EXPENDITURE EVALUATIONS

INTERIM COMMITTEE  LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 9, 2021      
Location HCR 0112



Introduction to Tax Expenditure Evaluations - Committee Discussion Only


02:20:57 PM  

Mr. Trey Standley, representing the Office of the State Auditor (OSA), came to the table to introduce the committee to the office's tax expenditure evaluation process. He distributed a list of tax expenditures reviewed by OSA with policy considerations through July 2021 (Attachment A).

02:22:51 PM  

Mr. Standley continued by discussing the cycle of evaluations and the issuance of a full report each year. He indicated that the office takes five years to review all of the expenditure provisions. He noted that OSA focuses on several things during their evaluations, including the purpose of the tax expenditure, the economic benefits, the impact to beneficiaries, and any issues with effectiveness of expenditure. He highlighted some examples of policy considerations including, but not limited to: repeal of obsolete provisions; clarity in the statutes; not effective at meeting their purpose; not targeting the specific population; and stated purposes of specific tax expenditures.

02:27:44 PM  

In response to a question from the committee, Mr. Standley discussed the evaluation process, specifically related to the purpose of a current tax expenditure. Mr. Standley, also in response to a committee question, defined tax expenditure, which includes tax credits, deductions, and exclusions. Several committee members discussed tax expenditures.

02:36:48 PM  

Mr. Standley continued by discussing the tax expenditures listed in Attachment A. He highlighted the process used by a previous interim legislative committee in 2019.

02:48:07 PM  

The committee discussed the tax expenditures that they would like further information on at future meetings.






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