SF 1571

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to tax expenditure budget; requiring 
  1.3             incidence analysis in certain instances; amending 
  1.4             Minnesota Statutes 1994, section 270.067, subdivision 
  1.5             4. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1994, section 270.067, 
  1.8   subdivision 4, is amended to read: 
  1.9      Subd. 4.  [CONTENTS.] The report shall detail for each tax 
  1.10  expenditure item the amount of tax revenue foregone, a citation 
  1.11  of the statutory or other legal authority for the expenditure, 
  1.12  and the year in which it was enacted or the tax year in which it 
  1.13  became effective.  In addition, for each item of tax expenditure 
  1.14  that exceeds $100,000,000 for a year covered by the report, the 
  1.15  budget must include information on the incidence of its 
  1.16  benefits.  This information on the distribution of the benefits 
  1.17  must be provided by, at least, population quintiles of the 
  1.18  income distribution.  Systemwide statistical measures of the 
  1.19  distribution across income classes may also be provided.  The 
  1.20  report may contain additional information which the commissioner 
  1.21  considers relevant to the legislature's consideration and review 
  1.22  of individual tax expenditure items.  This may include, but is 
  1.23  not limited to, statements of the intended purpose of the tax 
  1.24  expenditure, analysis of whether the expenditure is achieving 
  1.25  that objective, and the effect of the expenditure device on the 
  2.1   distribution of the tax burden and administration of the tax 
  2.2   system.