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2012 House Bill 5467: Rate all state tax credits, deductions and exemptions
Introduced by Rep. Brandon Dillon D- on March 13, 2012
To create a commission selected by legislative leaders of both the majority and minority parties to evaluate and determine whether each item on a list of so-called “tax expenditures” is “generating a good return on investment.” This $33 billion list mostly consists of potential expansions of various taxes paid by individuals (examples include repeal of the 18 mill principle residence property tax exemption, the state income tax personal exemption, and the sales tax on food exemption), but also contains selective “corporate welfare” type tax breaks given only to certain firms or industries (which are often cash subsidies styled as “refundable tax credits”).   Official Text and Analysis.
Referred to the House Government Operations Committee on March 13, 2012