Text: HF02347 Text: HF02349 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 421.62 PERFORMANCE-BASED TAX
1 2 POLICY.
1 3 1. This section shall be known and may be cited as the
1 4 "Performance-Based Tax Policy Act".
1 5 2. Subject to the requirements of subsection 3, the
1 6 legislative fiscal bureau shall review each tax exemption,
1 7 deduction, and credit enacted by the general assembly on or
1 8 after the effective date of this Act to measure the extent to
1 9 which the desired result for the enactment of that tax
1 10 exemption, deduction, or credit has been achieved. The
1 11 legislative fiscal bureau shall conduct the review and file a
1 12 report with the general assembly on its findings after the
1 13 first three tax years or fiscal years, as appropriate,
1 14 following the applicability date of the tax exemption,
1 15 deduction, or credit.
1 16 3. Subsection 2 shall only apply if the Act enacting the
1 17 tax exemption, deduction, or credit contains a description of
1 18 the desired result and specifies that this section applies to
1 19 that exemption, deduction, or credit.
1 20 Sec. 2. EFFECTIVE DATE. This Act, being deemed of
1 21 immediate importance, takes effect upon enactment.
1 22 EXPLANATION
1 23 This bill provides that for tax exemptions, deductions, and
1 24 credits enacted on or after the effective date of this bill,
1 25 the legislative fiscal bureau shall review them to determine
1 26 to what extent the desired result for their enactment has been
1 27 achieved. This review shall be made after the first three tax
1 28 years or fiscal years following the applicability date of the
1 29 tax exemptions, deductions, or credits. However, this review
1 30 shall only be conducted if the Act enacting the tax exemption,
1 31 deduction, or credit contains a description of the desired
1 32 result and specifies that such review shall be conducted.
1 33 The bill takes effect upon enactment.
1 34 LSB 5574HH 79
1 35 mg/sh/8
Text: HF02347 Text: HF02349 Text: HF02300 - HF02399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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