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H. B. No. 671 As IntroducedAs Introduced
130th General Assembly | Regular Session | 2013-2014 |
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A BILL
To enact section 5703.95 of the Revised Code to
require the Department of Taxation to conduct a
one-time cost-benefit analysis of all existing tax
credits, to appropriate $200,000 for that purpose,
and to require that, before a new tax credit may
be enacted, the Department must conduct a
cost-benefit analysis of the proposed credit.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5703.95 of the Revised Code be
enacted to read as follows:
Sec. 5703.95. (A) As used in this section:
(1) "Tax credit" means any credit allowed against a tax
administered by the department of taxation other than a credit
solely to reconcile excess tax payments or remittances.
(2) "Tax credit bill" means a bill introduced in the house of
representatives or the senate that proposes to enact one or more
tax credits.
(3) "State institution of higher education" has the same
meaning as in section 3345.011 of the Revised Code.
(B) Before a tax credit bill may be scheduled for a vote in
any legislative committee, the department of taxation shall
conduct a cost-benefit analysis of the proposed tax credit and
prepare a report of its findings and recommendations. The
department shall provide a copy of the report to each member of
the legislative committee to which the bill has been referred.
(C) The department of taxation may contract with a state
institution of higher education to assist in analyzing the costs
and benefits of the proposed tax credit and in preparing the
report of its findings and recommendations.
Section 2. (A) As used in this section:
(1) "Tax credit" means any credit allowed against a tax
administered by the Department of Taxation other than a credit
solely to reconcile excess tax payments or remittances.
(2) "Tax credit bill" means a bill introduced in the House of
Representatives or the Senate that proposes to enact one or more
tax credits.
(3) "Institution of higher education" has the same meaning as
in section 3345.011 of the Revised Code.
(B) On or before the first day of the thirteenth month after
the effective date of this act, the Department of Taxation shall
conduct a cost-benefit analysis of all existing tax credits and
prepare a report of its findings and recommendations. The
Department shall provide a copy of the report to the Governor, the
President and Minority Leader of the Senate, and the Speaker and
Minority Leader of the House of Representatives. Before issuing
the report, the Department shall allow any person to provide the
Department with evidence related to the costs or benefits of each
tax credit under review.
(C) The Department of Taxation may contract with a state
institution of higher education to assist in analyzing the costs
and benefits of each tax credit under review and in preparing the
report of its findings and recommendations.
Section 3. All items in this section are hereby appropriated
as designated out of any moneys in the state treasury to the
credit of the designated fund. For all appropriations made in this
act, those in the first column are for fiscal year 2014 and those
in the second column are for fiscal year 2015. The appropriations
made in this act are in addition to any other appropriations made
for the FY 2014-FY 2015 biennium.
TAX DEPARTMENT OF TAXATION
GRF |
110321 |
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Operating Expenses |
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$ |
0 |
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$ |
200,000 |
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TOTAL GRF General Revenue Fund
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$ |
0 |
|
$ |
200,000 |
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TOTAL ALL BUDGET FUND GROUPS
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$ |
0 |
|
$ |
200,000 |
|
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The foregoing appropriation item 110321, Operating Expenses,
shall be used to conduct the cost-benefit analysis required under
Section 2 of this act.
Within the limits set forth in this act, the Director of
Budget and Management shall establish accounts indicating the
source and amount of funds for each appropriation made in this
act, and shall determine the form and manner in which
appropriation accounts shall be maintained. Expenditures from
appropriations contained in this act shall be accounted for as
though made in Am. Sub. H.B. 59 of the 130th General Assembly.
The appropriations made in this act are subject to all
provisions of Am. Sub. H.B. 59 of the 130th General Assembly that
are generally applicable to such appropriations.
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