Massachusetts S2042 amends tax incentive programs to include sunset provisions and clawback mechanisms.

Massachusetts S2042 amends existing tax incentive programs to include sunset provisions and clawback mechanisms. The bill mandates that any law containing a sunset provision must also include a clawback provision, allowing the state to recoup foregone tax receipts from recipients who fail to meet stated goals. The bill also requires the governor to include specific details in any new tax incentive proposals, such as the public policy purpose, goals, and estimates of forgone revenue.

Massachusetts S2042 amends tax incentive programs to include sunset provisions and clawback mechanisms.

Massachusetts S2042 amends existing tax incentive programs to include sunset provisions and clawback mechanisms. The bill mandates that any law containing a sunset provision must also include a clawback provision, allowing the state to recoup foregone tax receipts from recipients who fail to meet stated goals. The bill also requires the governor to include specific details in any new tax incentive proposals, such as the public policy purpose, goals, and estimates of forgone revenue.