Bill: SB 5847 — 2017
Concerning the review process of the citizen commission for performance measurement of tax preferences (Carlyle, Hasegawa, Hunt)
Requires the joint legislative audit and review committee, when reviewing tax preferences, to include the following: (1) The overall effective tax rate for the industry groups benefiting from the tax preference; and (2) Using economic modeling techniques, evaluate potential economic impacts of the tax preference compared to the economic impact of government activities funded at the same level as the preference.
EFFECT OF CHANGES MADE BY 1ST SUBSTITUTE (Ways & Means)
(1) Requires the senior citizen property tax relief program to be included in the JLARC tax preference review process. (2) Reforms the DOR tax exemption report by requiring an update every two years instead of every four years and requiring the report to include a number of additional data elements. (3) Clarifies language that would disallow a taxpayer from claiming a new tax preference if the taxpayer does not properly report the tax savings from the new tax preference
Hearing Date: Thursday, January 18, 2018 -- 3:30 pm
WA State Legislature Link:
http://app.leg.wa.gov/billsummary?BillNumber=5847&Year=2017 (opens a new browser tab)