SB 56, Requiring Economic Analysis of Tax Bills

Municipal Impact
Position
Support
GMA Contact
Bill Sponsor

Sen. Sheikh Rahman
District 5

This bill would prohibit a tax bill from being adopted by the House of Representatives or the Senate unless an economic analysis of the bill has been completed by the state auditor. An economic analysis will include an estimate of the effects on an annual basis for ten years on: 

Net change in state revenue;

Net change in state expenditures, including the costs of administering the bill;

Net change in economic activity; and

Net change in public benefit, if applicable.

This bill would also provide that a tax bill may only be introduced in the House of Representatives, that it must include an LC number, and that an original fiscal note is attached. A tax bill may be modified before the final legislative day if the modified bill has been submitted to the state auditor for a revised economic analysis, and the economic analysis is attached to the bill prior to adoption in either chamber or reported from committee.

Last Updated: 2/11/2021
Subject Area: Finance and Money Management
Resources: bill text
BILL STATUS
2/1/2021 - Assigned to Senate Committee
COMMITTEE
Senate Finance

Comment on this Bill

SB 56 In The News