Bill
HB 6312
Overview: HB 6312, AN ACT CONCERNING THE INCLUSION OF THE STATE'S TAX EXPENDITURES AS A CONSIDERATION OF THE FISCAL CONTROLS OF THE STATE, was referred to the Joint Committee on Fi
Overview: HB 6312, AN ACT CONCERNING THE INCLUSION OF THE STATE'S TAX EXPENDITURES AS A CONSIDERATION OF THE FISCAL CONTROLS OF THE STATE, was referred to the Joint Committee on Finance, Revenue and Bonding. The bill was introduced on January 23, 2025.
Purpose and Intent: The main goal of this legislation is to require the state to consider tax expenditures, such as credits, deductions, and exemptions, as part of its overall fiscal controls and budgeting process.
Key Provisions:
- Mandates the inclusion of tax expenditures in the state's annual budget and fiscal planning
- Requires the state to analyze the costs and impacts of tax expenditures when making budgetary decisions
- Establishes a process for regularly reviewing and evaluating the effectiveness of tax expenditure programs
Affected Parties and Impacts: This bill would impact the state's budgeting and fiscal management practices, potentially leading to greater transparency and accountability around tax-related spending. It could also prompt reviews of existing tax expenditure programs to ensure they are achieving their intended goals.
Procedural and Timeline Considerations: HB 6312 has been referred to the Joint Committee on Finance, Revenue and Bonding for further consideration and review.
Compiled from official sources — confirm details with the bill’s official record.
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