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 metrics. This repeal signifies a shift away from stringent legislative requirements for tax expenditures, allowing for greater flexibility in their evaluation and implementation. The bill's provisions are set to take effect the day following final enactment.

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