[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 1974 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                S. 1974

 To require transparency in the tax code by requiring federally funded 
      tax credits to be disclosed in the USASpending.gov website.


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                   IN THE SENATE OF THE UNITED STATES

                            October 17, 2017

   Mr. Flake introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
 To require transparency in the tax code by requiring federally funded 
      tax credits to be disclosed in the USASpending.gov website.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Expenditures Accountability 
Act''.

SEC. 2. DISCLOSURE OF PUBLIC COMPANIES RECEIVING TAX CREDITS.

    (a) In General.--Notwithstanding section 6103 of the Internal 
Revenue Code of 1986 or any other provision of law, the Secretary of 
the Treasury, or the Secretary's delegate, shall provide to 
administrator of the website established under the Federal Funding 
Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note), for 
purposes of inclusion on such website, the information described in 
subsection (b) with respect to any taxpayer (other than an individual) 
which is allowed a credit against taxes under the Internal Revenue Code 
of 1986 for any taxable year beginning after the date of the enactment 
of this Act.
    (b) Information Included.--The information described in this 
subsection is--
            (1) the name of the taxpayer;
            (2) the type of the tax credit allowed; and
            (3) the amount of the credit.
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