(The Center Square) – Georgia lawmakers will take a closer look at the state’s spending thanks to a new law approved by the General Assembly that takes effect Wednesday.
The Tax Expenditures Transparency Act of 2024 requires lawmakers to conduct 12 analyses of state tax expenditures. Priority is given to those that expire in two years or allocate more than $20 million. If fewer than 12 meet the criteria, then lawmakers can choose the first ones that will sunset or be repealed in chronological order, according to the bill.
The analysis will be posted on the Department of Audits and Accounts website so that the public will have a chance to weigh in on the expenditures. The House Ways Means Committee and the Senate Finance Committee will meet before Jan. 31 of each year to discuss the previous year’s analysis, according to the bill.
“Georgians deserve to have transparency and a clear picture of how their taxpayer dollars are being spent, while knowing which industries receive tax breaks,” Lt. Gov. Burt Jones said when the bill passed. “The people of Georgia have placed their trust in their elected officials, and we owe it to them to be wise stewards of their hard earned money.”
