This bill allows the chairpersons of the House Ways and Means Committee and the Senate Finance Committee to request up to three economic analyses to be completed each year by the state auditor on existing or proposed tax provisions. An economic analysis will include an estimate of the effects on an annual basis for five 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.