23 LC 43 2574
H. B. 581
- 1 -
House Bill 581
By: Representatives Blackmon of the 146
th
and Crowe of the 118
th
A BILL TO BE ENTITLED
AN ACT
To amend Code Section 28-5-41.1 of the Official Code of Georgia Annotated, relating to
1
economic analysis of certain tax benefits of law or proposed law, and analysis on2
performance and outcomes of Code Section 33-1-25, so as to revise the deadlines, selection3
criteria, and required contents for certain annual economic analyses conducted by the4
Department of Audits and Accounts; to provide for an effective date; to repeal conflicting5
laws; and for other purposes.6
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7
SECTION 1.8
Code Section 28-5-41.1 of the Official Code of Georgia Annotated, relating to economic9
analysis of certain tax benefits of law or proposed law, and analysis on performance and10
outcomes of Code Section 33-1-25, is amended in subsection (b) as follows:11
(b)(1) Each year, the Department of Audits and Accounts shall conduct ten economic
12
analyses to be determined as follows:13
(A) First, any income tax credit or sales and use tax exemption that will sunset or be14
repealed by operation of law within two years from July 1 of the year during which the15 23 LC 43 2574
H. B. 581
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economic analyses are to be conducted. If more than ten meet such criteria, then the first16
ten that are set to sunset or be repealed shall be selected in chronological order; and17
(B) Next, when the total number of analyses required by subparagraph (A) of this18
paragraph is fewer than ten, On or before May 1 of each year, the chairperson of the19
House Committee on Ways and Means and the chairperson of the Senate Finance20
Committee may each request up to five one-half of the remaining number of economic21
analyses, which will amount to up to a total of ten analyses conducted annually pursuant22
to this paragraph. Such requests shall be transmitted to the Department of Audits and23
Accounts by April 15 of each year. In the event that the number of remaining, available24
economic analyses is an odd number, such number shall be increased by one, ensuring25
that each committee has an equal number of requests available.26
(2) The Department of Audits and Accounts shall contract with one or more independent27
auditors to complete all such analyses on or before December 1 November 15 of the year28
in which such analysis was required or requested.29
(3) Each such request economic analysis shall be limited to one existing provision of law30
or proposed law and shall specify one particular exemption, exclusion, or deduction from31
the base of a tax; credit against a tax; deferral of a tax; a rebate of taxes paid; tax32
abatement; or preferential tax rate to be analyzed.33
(4) Each economic analysis shall include any recommendations for improving the state's34
return on investment from the law or proposed law being studied."35
SECTION 2.36
This Act shall become effective upon its approval by the Governor or upon its becoming law37
without such approval.38
SECTION 3.39
All laws and parts of laws in conflict with this Act are repealed.40