Staff Analysis of the Legislation
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This bill requires an economic analysis to be conducted prior to the introduction in the legislature of any tax bill as well as prior to any amendment or substitute to such a bill. For purposes of this new requirement, a tax bill is any bill which provides for a tax incentive or modifies or extends an existing tax incentive and a tax incentive is any exemption, exclusion, credit, deferral, rebate, abatement, or preferential rate of a tax. |