California SB1349 mandates the Legislative Analyst’s Office to assess, report, and recommend on major tax expenditures.

California SB1349 requires the Legislative Analyst’s Office to comprehensively assess major tax expenditures, publish reports, and make recommendations to the Legislature. The bill defines major tax expenditures as specific tax credits and exemptions. The assessments will consider cost-effectiveness, impact on the General Fund, and potential savings. Reports will be published annually, with the final one due by January 1, 2032. The Senate and Assembly tax committees will hold joint public hearings on the first and most recent reports.

California SB1349 mandates the Legislative Analyst’s Office to assess, report, and recommend on major tax expenditures.

California SB1349 requires the Legislative Analyst’s Office to comprehensively assess major tax expenditures, publish reports, and make recommendations to the Legislature. The bill defines major tax expenditures as specific tax credits and exemptions. The assessments will consider cost-effectiveness, impact on the General Fund, and potential savings. Reports will be published annually, with the final one due by January 1, 2032. The Senate and Assembly tax committees will hold joint public hearings on the first and most recent reports.