An Act Requiring Tax Expenditures To Be Listed Individually As Line Items In The Budget.
If enacted, HB 05919 would have a profound impact on state budgeting processes. By requiring individual line item listings for tax expenditures, the bill would afford lawmakers clearer insight into the fiscal costs associated with various tax breaks. This increased transparency could lead to more informed decision-making regarding state allocation of resources and tax policy adjustments. The law could also encourage greater public scrutiny of government spending, aligning with broader fiscal accountability efforts within state governance.
House Bill 05919, introduced by Representative Lesser, proposes a significant modification to how tax expenditures are reported within the state budget. The bill aims to mandate that each tax expenditure be listed individually as a line item within the budget document approved by the General Assembly. This change is intended to enhance the transparency and accountability of state government spending practices, allowing legislators and the public to better track the fiscal implications of tax exemptions and credits.
However, there may be contention surrounding the implementation of HB 05919. Some lawmakers and stakeholders in the business community might argue that breaking down tax expenditures into detailed line items could complicate the budgeting process and create resistance against necessary tax incentives designed to promote economic growth. Proponents of the bill assert that without such transparency, tax expenditures effectively remain hidden from public view, resulting in insufficient oversight and accountability in how state funds are utilized.