An Act relative to economic development tax credits

This bill establishes a mandatory expiration date, known as a "sunset provision," for various state tax incentives in Massachusetts, including credits for film production, life sciences, and historic rehabilitation. It requires that all existing tax incentives expire one year after the law passes unless the legislature explicitly reauthorizes them, and any future tax credits must include an expiration date no later than three years after they begin. To ensure these programs remain effective, the bill directs the state Inspector General to review each incentive annually based on criteria such as job creation, revenue impact, and whether it meets its original policy goals before recommending whether to continue, amend, or eliminate the program.