10 SB 206/AP
Senate
Bill 206
By:
Senators Goggans of the 7th, Hill of the 4th, Williams of the 19th, Rogers of
the 21st, Cowsert of the 46th and others
AS
PASSED
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 1 of Article 4 of Chapter 12 of Title 45 of the Official Code of
Georgia Annotated, relating to management of budgetary and financial affairs by
the Office of Planning and Budget, so as to require tax expenditure reviews as a
part of the budget report; to provide powers, duties, and responsibilities of
the Office of Planning and Budget, the Department of Audits and Accounts, and
the Department of Revenue; to provide for a definition; to provide for contents
and requirements of each report; to provide for related matters; to provide an
effective date; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Part
1 of Article 4 of Chapter 12 of Title 45 of the Official Code of Georgia
Annotated, relating to management of budgetary and financial affairs by the
Office of Planning and Budget, is amended in Code Section 45-12-71, relating to
definitions regarding management of such affairs by such office, by adding a new
paragraph to read as follows:
"(15)
'Tax expenditure' means any statutory provision which exempts, in whole or in
part, any specific class or classes of persons, income, goods, services, or
property from the impact of established state taxes, including but not limited
to tax deductions, tax allowances, tax exclusions, tax credits, preferential tax
rates, and tax exemptions. Such term shall also include any expenditure of
state tax proceeds to local governments for homeowner tax relief grants or local
government assistance grants authorized by or required by any provision of
Article VII of the
Constitution."
SECTION
2.
Said
part is further amended in Code Section 45-12-75, relating to the budget report,
by revising paragraphs (7) and (8) and adding a new paragraph to read as
follows:
"(7)
A draft of a proposed General Appropriations Act or Acts embodying the
Governor's budget report and recommendations for appropriations for the next
fiscal year and drafts of such revenue and other Acts as may be recommended for
putting into effect the proposed financial plan. The recommended appropriation
for each budget unit shall be specified in a separate section of the General
Appropriations Act. The total amount of appropriations recommended shall not
exceed the cash resources available to meet expenditures under such
appropriations;
and
(8)
A tax
expenditure review for the state. Such review shall be prepared by the
Department of Audits and Accounts and provided to the Office of Planning and
Budget in a timely manner for inclusion as part of the budget report. Such
review shall detail for each tax expenditure item that amount of tax revenue
foregone for at least a three-year period, including the period covered in the
Governor's budget submitted the preceding January, the current budget, and an
estimate of one future year; a citation of the statutory or other legal
authority for the expenditure; the year in which it was enacted; and the tax
year in which it became effective. The tax expenditure information required
under this paragraph shall be tracked and compiled by the Department of Revenue
and provided in a timely manner to the Department of Audits and Accounts. Taxes
included in this report shall cover all state taxes collected by the Department
of Revenue. The Department of Revenue shall be authorized to provide
estimations in the event the required tax expenditure information cannot be
actually determined from available information. The Department of Revenue shall
not be authorized to impose additional reporting requirements on any person or
entity in order to track and compile any tax expenditure information. Nothing
in this paragraph shall preclude the Department of Audits and Accounts from
contracting out the preparation and analysis associated with the development of
such report to any member institution of The University System of Georgia;
and
(9)
Such other information as the Governor deems desirable or as is required by
law."
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.