Income and corporation taxes: credits: information and operative time period.

Existing law imposes various taxes and allows specified credits, deductions, exclusions, and exemptions in computing those taxes. This bill would require any bill, introduced on or after January 1, 2012, that would authorize a personal income or corporation tax credit to contain, among other provisions, (1) specified goals, purposes, and objectives that the tax credit will achieve, (2) detailed performance indicators to measure whether the tax credit is meeting those goals, purposes, and objectives, and (3) a requirement that the tax credit cease to be operative no later than 10 taxable years after its effective date, as specified.