Taxation: tax expenditures: Legislative Analyst’s Office: assessment, report, and recommendation.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Taxation: tax expenditures: Legislative Analyst’s Office: assessment, report, and recommendation.

SB 1349, as amended, Gonzalez.

What This Bill Does

• SB 1349, as amended, Gonzalez.
• Taxation: tax expenditures: Legislative Analyst’s Office: assessment, report, and recommendation.
• Existing law, including, but not limited to, property tax law, the Sales and Use Tax Law, the Personal Income Tax Law, the Corporation Tax Law, the Motor Vehicle Fuel Tax Law, the law governing the taxation of insurers, the Use Fuel Tax Law, and the Diesel Fuel Tax Law, provides for tax expenditures, including exemptions, deductions, exclusions, and credits against the taxes imposed by those laws.
• The bill would require the Legislative Analyst’s Office (LAO) to comprehensively assess the major tax expenditures, as defined, of the state, write and publish a report on each major tax expenditure, and make a recommendation to the Legislature based on each report.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

SB 1349, as amended, Gonzalez.
Taxation: tax expenditures: Legislative Analyst’s Office: assessment, report, and recommendation.
Existing law, including, but not limited to, property tax law, the Sales and Use Tax Law, the Personal Income Tax Law, the Corporation Tax Law, the Motor Vehicle Fuel Tax Law, the law governing the taxation of insurers, the Use Fuel Tax Law, and the Diesel Fuel Tax Law, provides for tax expenditures, including exemptions, deductions, exclusions, and credits against the taxes imposed by those laws.
The bill would require the Legislative Analyst’s Office (LAO) to comprehensively assess the major tax expenditures, as defined, of the state, write and publish a report on each major tax expenditure, and make a recommendation to the Legislature based on each report. In this regard, the bill would require LAO, as part of the comprehensive assessments, to identify any savings that the Legislature can realize by reducing or
limiting the major tax expenditures, and require them to consider certain criteria when finalizing each report, including the extent to which the major tax expenditure is a cost-effective use of resources compared to other options to address the same purpose, intent, or goal.
The bill would require LAO to complete and publish on its internet website its first report on a major tax expenditure by October 15, 2027, and to complete and publish on its internet website each subsequent report on a major tax expenditure
annually, as determined by LAO, thereafter.
annually thereafter until January 1, 2032.
The bill would require the Senate Committee on Revenue and Taxation and the Assembly Committee on Revenue and Taxation,
in each legislative session in which a comprehensive assessment of a major tax expenditure is completed,
to hold a joint public hearing on
the report
these reports
by
each
August 15 of the second year of the legislative
session.
session, as specified. The bill would repeal its provisions on January 1, 2033.
The bill would make findings and declarations relating to these provisions.

Current Bill Text

Download Bill PDF