Section 1 Short title
This Act may be cited as the “Tax Expenditures Accountability Act”.
Tax Expenditures Accountability Act
A BILL
To require transparency in the tax code by requiring federally funded tax credits to be disclosed in the USASpending.gov website.
Sec. 2 Disclosure of public companies receiving tax credits
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.
Information included— The information described in this subsection is—
the name of the taxpayer;
the type of the tax credit allowed; and
the amount of the credit.