Senate Finance & Revenue - 02.13.2023
The committee began its discussion on expiring tax credits and potentially reshuffling the entire schedule of sunsets.
On Monday, the Senate Finance & Revenue Committee held a hearing on legislation seeking to change the sunset dates for tax expenditures not currently set to expire. This conversation is the byproduct of interim deliberations between the chair and vice-chair over the tax credit review workload in future biennia. Notably, the anticipated cost of tax credits slated for review during the 2025 session is $171 million, which could complicate revenue politics since the state economists call for a steep decline in General Fund revenues for the 2025-27 biennium.