(a) In this subtitle the following words have the meanings indicated. (b) “Department” means the Department of Legislative Services. (c) “Evaluation” means the process of legislative review of a tax credit, exemption, or preference for which this subtitle provides.
The purpose of this subtitle is to establish a system of legislative review that will determine whether a tax credit, exemption, or preference is necessary for the public interest.
(a) Subject to subsections (b) and (c) of this section, on a request by the Senate Budget and Taxation Committee, the House Committee on Ways and Means, the Executive Director of the Department, or the Director of the Office of Policy Analysis in the Department, the Department shall conduct an evaluation of a State tax credit, […]
For each evaluation required under this subtitle, the Department shall: (1) consult with: (i) the Department of Budget and Management; (ii) the Comptroller; and (iii) the department, instrumentality of the State, or local government that administers the tax credit, exemption, or preference under evaluation; and (2) prepare a plan for the evaluation.
During an evaluation, the Comptroller, the Department of Budget and Management, and the department, instrumentality of the State, or local government that administers the tax credit, exemption, or preference shall: (1) provide promptly any information that the Department requests; and (2) otherwise cooperate with the Department.
(a) The Department shall prepare a report on the evaluation that: (1) discusses, to the degree relevant: (i) the purpose for which the tax credit, exemption, or preference was established; (ii) whether the original intent of the tax credit, exemption, or preference is still appropriate; (iii) whether the tax credit, exemption, or preference is meeting its objectives; (iv) whether the purposes […]
This subtitle may be cited as the “Tax Expenditure Evaluation Act”.
