This bill modifies the requirements for the Tax Expenditure Review Commission in Minnesota by amending several sections of the Minnesota Statutes and repealing existing legislative requirements for new or renewed tax expenditures. Key amendments include changes to the definitions and duties of the commission, such as replacing the term "purpose" with "objective" in various contexts, and establishing a more structured review process for tax expenditures. The commission is now required to hold public hearings and submit reports detailing their findings, including estimates of revenue lost and recommendations for the continuation, repeal, or modification of tax expenditures.

Additionally, the bill repeals Minnesota Statutes 2024, section 3.192, which previously mandated that any new or renewed tax expenditure must include a statement of intent outlining its purpose and effectiveness standards. This repeal signifies a shift towards a more flexible approach in evaluating tax expenditures, allowing the commission to focus on objectives rather than strictly defined purposes. The effective date for all changes is set for the day following final enactment.

Statutes affected:
Introduction: 3.8855, 270C.11, 3.192