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 propose cost-saving measures within state agencies. The bill outlines that the tax credit will be available to full-time state employees who are not responsible for budget creation or implementation. The credit is set at 30% of the annual state savings certified by the commissioner of the division of administration, with a fiscal cap of $10 million per year. The credit can be claimed over a three-year period, with specific percentages allocated to each tax year following the certification.

The bill also details the process for applying for the tax credit, which requires eligible employees to submit their proposals to their agency heads, who will then assess the potential savings and forward their recommendations to the commissioner for certification. Additionally, the bill includes provisions for the recapture of credits in cases of fraud or misrepresentation and mandates the commissioner to develop rules for the program's implementation by December 31, 2025. Notably, the bill stipulates that no credits will be certified after July 1, 2029, ensuring a clear timeline for the program's operation.