TAX EXPENDITURE REPORT - H.B. 4524: COMMITTEE SUMMARY
House Bill 4524 (as passed by the House)
Sponsor: Representative Chris Ward
CONTENT
The bill would amend Section 361 of the Management and Budget Act to replace a reference to the tax “expenditure” report with a reference to the tax “credit, deduction, and exemption” report.
Section 361 requires the tax expenditure report, as provided by Public Act 72 of 1979, to be submitted with the annual budget message by the Governor to the Legislature. Public Act 72 requires the Governor to report certain tax expenditure items with his or her annual budget message to the Legislature.
The bill is tie-barred to Senate Bill 362, which would amend Public Act 72 to remove references to tax “expenditure items” and instead require the Governor to report the tax “credit, deductions, and exemptions” identified in the Act.
MCL 18.1361 - Legislative Analyst: George Towne
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
- Fiscal Analyst: Bill BowermanS0304\s4524sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.