What to Watch: Week of March 8
Property Tax Relief Proposals Gaining Traction This morning the House Revenue and Taxation Committee agreed to hold a full hearing on House Bill 309 which would increase access to the state property tax deferral program. This program, first started in 2006, allows a homeowner to defer paying their property tax assuming their home has equity. …
From the Executive Director: Week of March 8
We’re (potentially) entering the home stretch of the legislative session. The end of this week marks the transmittal deadline. Each year the legislature sets a deadline for all bills introduced in one chamber to be transmitted to the other chamber. Think of it as an aspirational goal, kind of like a New Year’s resolution. The …
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What to Watch: Week of March 1
One Time Transportation Funding Keep an eye on the Joint Finance and Appropriations Committee this week. They will likely hear a transportation supplemental of $126 million. This would be split with 60 percent going to the state and the other 40 percent ($47 million in one-time transportation funding). The funds wouldbe allocated through the highway …
From the Executive Director: Week of March 1
Balancing Tax Relief and Funding for Local Services The Legislature is still slowly moving towards a series of proposals to provide tax relief and fund infrastructure projects. I expect a new tax relief package to be introduced in the next week or two that will reduce income tax rates and provide ongoing funding from the …
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What to Watch: Week of February 22
Keep an eye on House Bill 149 which extends the sunset date on the Coronavirus Limited Immunity Act that was passed in the 2020 Special Session. The sunset date would be changed from July 1, 2021 to July 1, 2022. This bill was introduced early last week and will likely receive a full hearing later …
From the Executive Director: Week of February 22
This past week was a busy one at the Capitol, especially for counties. In addition to Senate Bill 1108 clearing the Senate State Affairs Committee on a 6-3 vote (with Senators Lakey, Nye, and Rabe voting no), two other bills were introduced which would impact county budgets. The House Revenue and Taxation Committee introduced House …
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What to Watch: Week of February 15
Property Tax Chairman Rice introduced Senate Bill 1108 late last week in the Senate Local Government and tax. This is the latest bill to address property taxes. This bill will be heard in committee on Thursday, February 18th. The framework for this bill provides much more flexibility for local governments than the 4% cap in …
From the Executive Director: Week of February 15
The Senate Local Government and Taxation Committee will hear Senate Bill 1108 on Thursday at 3:00 pm MST. The IAC Legislative Committee has been reviewing the bill and will take a position tomorrow. Senate Bill 1108 is much better than Senate Bill 1021 or 1048, but there will still be a fiscal impact on local …
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From the Executive Director: Week of February 8
Over the last few weeks, we’ve seen three bills introduced related to property taxes and local government budgets: Senate Bills 1021 and 1048 and House Bill 73. We’re likely to see new bills introduced over the next two weeks. I want to express my appreciation for your attentiveness in reviewing the proposals, letting IAC know …
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What to Watch: Week of February 1
IAC expects at least two bills from the Property Taxes and Revenue Expenditures Study Committee to be introduced this week. One bill seeks to establish a uniform local government accounting and financial reporting manual which will be overseen by a legislative oversight committee and administered by the State Controller’s Office. The proposal will also establish …