Agenda - Revenue and Fiscal Affairs

Senate Committee on Revenue and Fiscal Affairs
May 31, 2011 10:30 am John J. Hainkel, Jr. Room
Adjourned

BLUE = already considered. RED = currently being considered. BLACK = not yet considered.
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CALL TO ORDER
ROLL CALL
MINUTES TO BE APPROVED:
	May 9, 2011
LEGISLATION TO BE CONSIDERED
		SB49	FRED MILLS	TAX EXEMPTIONS - Provides for a state sales and use tax exemption for certain transactions related to certain inhibitors and certain complex biologics. (7/1/11) (OR -$4,800,000 LF RV See Note)
		SB177	HEITMEIER	TAX/INCOME/PERSONAL - Grants a non-refundable income tax credit equal to the deduction taken by a resident taxpayer on his federal return for interest paid on a loan for himself or a resident dependent or spouse if they are graduates from the baccalaureate level and the education loan is a loan for education above the baccalaureate level. (gov sig) (RE -$6,300,000 GF RV See Note)
		SB197	ERDEY	TAX EXEMPTIONS - Phases in an exemption of certain capital gains income of individuals 65 years of age or older from state individual income tax. (gov sig) (EG -$4,600,000 GF RV See Note)
		SB198	ERDEY	TAX EXEMPTIONS - Phases in by 2015 an exemption from income tax for dividend and interest income of those 65 years of age or older. (gov sig) (EG -$4,100,000 GF RV See Note)
		SB210	MORRELL	TAX/TAXATION - Temporarily exempts from tobacco tax cigars and smoking tobacco sampled during the Convention of the International Premium Cigar and Pipe Retailers. (8/15/11) (EN -$50,000 GF RV See Note)
		SB245	WILLARD-LEWIS	TAX/TAXATION - Provides a tax credit against individual state income tax for the amount of sales tax paid by homeowners when purchasing green materials for residential home building or remodeling. (8/15/11) (OR DECREASE GF RV See Note)
		SB253	L.JACKSON	BONDS - Provides relative to the issuance of bonds by public trusts. (8/15/11) (EN NO IMPACT GF RV See Note)
		SB254	WILLARD-LEWIS	TAX/TAXATION - Exempts the sale of construction materials to the Make It Right Foundation from state and local sales tax when such materials are intended for use in constructing new residential dwellings in this state. (7/1/12) (EN -$112,000 GF RV See Note)
		SB257	CROWE	TAX/TAXATION - Remove the requirement for certification by the commissioner of administration and approval by the Joint Legislative Committee on the Budget and the state bond commission before the Investor Tax Credit and the Import Export Cargo Credit for ports may be issued by the Department of Economic Development. (7/1/11) (OR SEE FISC NOTE GF RV)
		HB591	RITCHIE	TAX/TOBACCO TAX - Removes termination of the applicability of a certain portion of the tax levied on cigarettes (EN +$12,000,000 GF RV See Note)
CONSIDERATION OF ANY OTHER MATTERS THAT MAY COME BEFORE THE COMMITTEE
ADJOURNMENT