Quantcast

Tax credit evaluation bill returns to General Assembly

An effort to shed more light on a small slice of the billions of dollars in tax breaks that Maryland doles out every year is back, revived by a pair of Montgomery County lawmakers. Sen. Richard S. Madaleno Jr. introduced The Tax Credit Evaluation Act on Tuesday. And Del. Bill Frick, the architect behind the effort, said he'll drop twin legislation in the House of Delegates as soon as Wednesday. The bills would require General Assembly committees to review a handful of tax credits every five years to determine if the state should continue to offer them. The reviews would look at the intent of the tax credits, whether they are actually meeting those goals and whether the tax revenue lost the state is worth it. "We have to find a way to systematically review our tax credits. You put things in to address a specific need or policy goal and they stay on the books forever, said Madaleno. "We should have some way to periodically review all of these programs to see if they’re serving their intended purpose, and to see if they’re still affordable or worthwhile." Madaleno, who serves on the Senate Budget and Taxation Committee, said that lawmakers deal regularly with some tax breaks that are funded through the state's budget.

Leave a Reply

Your email address will not be published. Required fields are marked *

*