Senate Bill No. 33 proposes the establishment of the Government Accountability and Innovation for Net Savings (GAINS) tax credit program, which aims to incentivize eligible state employees to identify and implement cost-saving proposals within state agencies. The bill defines key terms such as "agency," "commissioner," "department," "eligible state employee," and "state savings." It authorizes a tax credit against individual income tax for state savings recommended by eligible employees, with a cap of $10 million in credits per fiscal year. The credit is set at 30% of the certified state savings and can be claimed over a two-year period following the year of certification.

The bill outlines the process for eligible employees to submit their savings proposals to their agency heads, who will then assess the potential for savings and forward recommendations to the commissioner for certification. The commissioner is responsible for reviewing these proposals and certifying the credits, while also having the authority to recapture credits in cases of fraud or misrepresentation. Additionally, the bill mandates the promulgation of rules for the program's implementation and stipulates that no credits will be certified after July 1, 2029. The act will take effect upon the governor's signature or after the designated period for gubernatorial action.