Review of tax exemptions every ten years

(a) The exemptions or exclusions under the general excise and use taxes listed in subsection (c) shall be reviewed in 2024 and every tenth year thereafter. (b) The auditor shall submit the findings and recommendations of the reviews to the legislature and governor no later than twenty days prior to the convening of the immediately following regular session. (c) This section shall apply to the following: (1) Section 237-24.3(2)--Reimbursements to associations of owners of condominium property regimes or nonprofit homeowners or community associations for common expenses; (2) Section 237-24.5--Amounts received by exchanges or exchange members; (3) Section 237-25(a)(3)--Gross income received from tangible personal property sales to state-chartered credit unions; (4) Section 237-24.8--Amounts received by financial institutions, trust companies, trust departments, or financial corporations acting as interbank brokers; (5) Section 237-26--Gross proceeds of scientific contractors and subcontractors; (6) Section 238-3(j)--The value of property or services exempted by section 237-26, relating to scientific contracts; and (7) Section 237-27--Amounts received by petroleum product refiners from other refiners.