Proposing a constitutional amendment to require periodic review of state and local tax preferences and their expiration if not reauthorized.

This bill proposes a constitutional amendment to require the periodic review of state and local tax preferences. It mandates that tax preferences enacted or reauthorized after September 1, 2026, expire six years later unless reauthorized by law, with the possibility of an earlier expiration set by the legislature. For tax preferences in effect before September 1, 2026, that are reauthorized on or after that date, expiration will also occur six years after the reauthorization date, with the option for an earlier expiration.

Proposing a constitutional amendment to require periodic review of state and local tax preferences and their expiration if not reauthorized.

This bill proposes a constitutional amendment to require the periodic review of state and local tax preferences. It mandates that tax preferences enacted or reauthorized after September 1, 2026, expire six years later unless reauthorized by law, with the possibility of an earlier expiration set by the legislature. For tax preferences in effect before September 1, 2026, that are reauthorized on or after that date, expiration will also occur six years after the reauthorization date, with the option for an earlier expiration.