§998. Process for review of tax expenditures

1.  Assignment of review categories.  By October 1, 2015, the committee, in consultation with the policy committee, shall assign each tax expenditure to one of the following review categories:

A. Full evaluation for tax expenditures that are intended to provide an incentive for specific behaviors, that provide a benefit to a specific group of beneficiaries or for which measurable goals can be identified;   [PL 2015, c. 344, §4 (NEW).]

B. Expedited review for tax expenditures that are intended to implement broad tax policy goals that cannot be reasonably measured; and   [PL 2015, c. 344, §4 (NEW).]

C. No review for tax expenditures with an impact on state revenue of less than $50,000 or that otherwise do not warrant either a full evaluation or expedited review.   [PL 2015, c. 344, §4 (NEW).]

[PL 2015, c. 344, §4 (NEW).]

2.  Schedule.  The committee, in consultation with the policy committee, shall establish a prioritized schedule of ongoing review of the tax expenditures assigned to the full evaluation and expedited review categories pursuant to subsection 1, paragraphs A and B. To the extent practicable, the committee shall group the review of tax expenditures with similar goals together.

[PL 2017, c. 266, §1 (AMD).]

3.  Annual review of assignments and schedule.  By October 1st of each year, beginning in 2016, the committee, in consultation with the policy committee, shall review and make any necessary adjustments to the review category assignments and schedule pursuant to subsections 1 and 2, including adjustments needed to incorporate tax expenditures enacted, amended or repealed during the preceding year.

[PL 2015, c. 344, §4 (NEW).]

4.  Office responsibilities.  The office shall maintain a current record of the review category assignments and the schedule under this section.

[PL 2015, c. 344, §4 (NEW).]

SECTION HISTORY

PL 2015, c. 344, §4 (NEW). PL 2017, c. 266, §1 (AMD).