Video & Transcript Research : 'depreciation schedule'
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US
US Federal 2025-2026 Regular Session
A joint hearing with the House Committee on Small Business to examine prosperity on Main Street, focusing on keeping taxes low for small businesses. Apr 8th, 2025 at 09:00 am
Small Business and Entrepreneurship Committee
Transcript Highlights:
- In the course between 2018 and 2022, the tax treatment for these formerly depreciable capital assets
- was corrected, but unfortunately, full and immediate expensing, also known as bonus depreciation, is
- Unfortunately, bonus depreciation has already begun to phase out.
- While the bonus depreciation provision provided a substantial boost to small business, its phase down
- But the bonus depreciation, that is absolutely critical to the business plans.
Keywords:
joint hearing, small business, Tax Cuts and Jobs Act, economic recovery, tax relief, job creation
Summary:
In this joint hearing of the House Committee on Small Business and the Senate Committee on Small Business and Entrepreneurship, the primary focus was on the importance of making the Tax Cuts and Jobs Act of 2017 (TCJA) permanent. The chair emphasized that small businesses are crucial for the nation's economic recovery, especially in the wake of current federal policies perceived as detrimental. Witnesses shared their experiences and highlighted how the tax cuts facilitated job creation and business expansion, stressing the need for continued support through ongoing tax relief measures. The meeting included discussions about the economic implications of the TCJA's potential expiration, with members voicing their concerns regarding how this could impact small businesses and the broader economy.
WA
Washington 2025-2026 Regular Session
House Appropriations Feb 18th, 2026
Transcript Highlights:
- costs, as well as costs associated with the administration of training, testing, and certification scheduling
- Some of the sources of funding for the transportation vehicle fund in a district include state depreciation
- payments to reimburse school districts for a vehicle And district includes state depreciation payments
Summary:
The Appropriations Committee held a public hearing on several bills. Senate Bill 5109 would raise the mortgage lending fraud prosecution surcharge on recorded deeds of trust from $1 to $5 and remove the 2027 sunset on the surcharge and account. Committee staff said the change would generate additional revenue for county auditors and the Department of Financial Institutions to contract with prosecutors; King County and the Washington Association of Prosecuting Attorneys testified in strong support, saying the current funding has eroded and the bill would better sustain mortgage fraud prosecutions. A question was raised about whether other budget funding could serve a similar purpose, but supporters said the dedicated surcharge/account structure was the best fit. No vote was taken.
The committee also heard Engrossed Substitute Senate Bill 5500, which would require DCYF’s biennial child care report to include a current cost-of-quality study in addition to the market rate survey. Testifiers from Child Care Aware of Washington, child care providers, and the early education design team supported the bill, saying the market rate survey alone does not capture the true cost of providing quality care. Staff said the bill would have a small fiscal impact for DCYF. The committee then heard Substitute Senate Bill 5834 and Senate Bill 5835, both Department of Retirement Systems request bills: one would broaden use of pension fund interest earnings for fund-protection expenses beyond the 2025-27 biennium, and the other would raise the threshold for lump-sum payment of small monthly benefits from $50 to $250. Neither bill drew public testimony, and staff said the fiscal impacts were minimal.
Later, the committee heard Engrossed Senate Bill 5872, which would create the Pre-K Promise Account for ECAP funding and allow gifts, grants, and donations to be used solely to expand the program. Supporters including rural health coalitions, the Balmer Group, and Snohomish County said the account would help expand access to early learning, especially in child care deserts; DCYF estimated staffing costs to administer the account. Substitute Senate Bill 6007 would direct WSIPP to study DCYF’s child welfare screening tools and their effects on outcomes, with a reported cost of about $234,000; there was no public testimony. Engrossed Substitute Senate Bill 6019 would clarify home care agency rate-setting and require that no more than 20% of Medicaid home care rates go to administrative costs, with DSHS saying there would be no fiscal impact. Labor and caregiver witnesses supported it as a parity and accountability measure. Finally, Senate Bill 6065 would allow school districts in binding conditions or enhanced financial oversight to use transportation vehicle funds more flexibly, including temporary loans or permanent transfers with approval; a rural education representative supported the bill, and staff said OSPI would incur only modest administrative costs. The committee took no final action and adjourned after the hearings.
CA
California 2025-2026 Regular Session
Assembly Revenue and Taxation Committee Jun 29th, 2026
Transcript Highlights:
- A shortened life accelerates depreciation and forces assessments below market.
- Existing Board of Equalization rules allow assessors to account for depreciation, obsolescence, and incentives
- agricultural operations, flight training, freight movement, and access for communities that may not have scheduled
- This program is administered by the California Department of Tax and Fee Administration and is scheduled
- Administration and is scheduled to sunset on July 1, 2020.
Summary:
The Assembly Revenue and Taxation Committee held a final hearing on a series of Senate bills, with the chair explaining the committee’s suspense-file process and then taking up measures in regular order and later from suspense. SB 1329 on solar property tax assessment drew the most extensive testimony: the author and industry supporters said it would create statewide assessment standards, exclude intangibles, and provide certainty for solar development, while county assessors and county representatives opposed it as a statutory formula that would undercut fair market value and reduce local revenue. The bill was sent to suspense during the first portion of the hearing and later passed suspense 5-2 after amendments. SB 661, dealing with airport funding and aviation fuel tax revenues, also generated support from airport and local government representatives but opposition from airlines over the proposed distribution formula; it was referred to suspense and later passed 7-0 with amendments. SB 1172, which places guardrails on tax-sharing agreements, was supported by local governments and retailers; after the author accepted committee amendments, opposition was withdrawn and the bill passed 4-2 to the floor. SB 9-1-1, a wildfire safety measure using the Preliminary Change of Ownership Report to notify fire agencies about defensible-space compliance, was supported by fire chiefs and wildfire-safety advocates but opposed by assessors; it passed 5-2 to Appropriations. SB 1408, authorizing Contra Costa County to place a transportation sales tax on the ballot, passed 4-2 to the floor. SB 1072, the housing omnibus bill, passed 7-0, and SB 1424, expanding a sales tax exemption for zero-emission vehicle fueling equipment, was held in committee after support from hydrogen and electric transportation advocates and no opposition. In suspense-file action, the committee also passed SB 1435, SB 288, SB 296, SB 420, SB 881, SB 888, SB 1053, SB 1406, and SB 1407, while SB 353 and SB 1249 were held. The chair closed by thanking members, staff, stakeholders, and a retiring consultant, and adjourned the committee.
LA
Transcript Highlights:
- duties from six to seven for parish elections and from eight to nine for presidential or regularly scheduled
Keywords:
registrar of voters, parish registrar, chief deputy registrar, confidential assistant, election administration, elections, salary schedule, compensation, merit evaluation, population-based pay, census-based pay, Department of State, Secretary of State, State Board of Election Supervisors, redistricting, senate districts, Senate District 33, Senate District 34, Senate District 35, precincts
OK
Keywords:
firearm safety, public schools, education policy, student safety, gun control, opt-out option, grading system, student assessment, academic integrity, state funding, opinion conduct, open meetings, school boards, transparency, public access, education governance, HB2961, TSgt Marshal Dakota Roberts Gold Star Survivor Act, Gold Star family, Gold Star recipient
OK
Keywords:
firearm safety, public schools, education policy, student safety, gun control, opt-out option, grading system, student assessment, academic integrity, state funding, opinion conduct, open meetings, school boards, transparency, public access, education governance, HB2961, TSgt Marshal Dakota Roberts Gold Star Survivor Act, Gold Star family, Gold Star recipient
Summary:
The Senate Education Committee met and first recognized visiting students and staff from Putnam City North and Edmond Public Schools. The committee then took up several House bills, beginning with HB 3312, which would require annual age-appropriate firearm safety instruction in public schools starting in the 2026–2027 school year, with CLEET and the Department of Education developing the curriculum. The bill was advanced on a 9-2 vote after the author described it as a safety measure and cited a personal tragedy involving children and a firearm.
The committee also passed HB 3700, requiring colleges and universities to adopt policies ensuring grades are based only on academic performance, and HB 2981, requiring school districts to post school board meeting minutes within two weeks of approval. HB 2961, creating the Tech Sergeant Marshall Dakota Roberts Gold Star Surviving Act to provide tuition, fees, and room and board for spouses and children of Gold Star recipients at state public universities or career tech schools, passed unanimously after discussion of a possible fiscal impact. HB 3016, establishing a two-year pilot vision screening program for about 12 schools to identify convergence insufficiency disorders linked to literacy, also passed.
Later, HB 4478 passed to raise the daily deposit threshold for school districts and sites from $100 to $500 while still requiring weekly deposits. HB 4326, a cleanup bill related to Oklahoma’s Promise deadlines, certified teacher definitions, and a contingent T-SET-related provision, passed after debate about its unfinished status and funding concerns. HB 3025 passed with a change excluding donations from general fund collections for carryover balance purposes for one year, and HB 3710 passed to make a new higher education program cohort-based, requiring students to begin eligibility as freshmen. The chair closed by noting the committee had moved quickly, and announced upcoming executive nominee meetings and another committee meeting the following week.
WA
Transcript Highlights:
- was the person with the IID requirement blowing into the device, and also no failures to complete scheduled
- committee meeting planned at 4 o'clock on Monday for executive session, and there are already some bills scheduled
Bills:
SJM8016, SB6230, SB5234, SB6081, SB6265, SB6170, SB6131, SB6155, SB6176, SB6238, SB6253, SB6311, SB6032, SB6262
Keywords:
bridge repair, infrastructure, emergency funding, transportation, public safety, cash transactions, pennies, currency, economic efficiency, financial regulation, snowmobile, snowmobile registration, vehicle registration fees, registration fee, Department of Licensing, DOL, recreational vehicles, winter recreation, vintage snowmobile, parks and recreation
Summary:
The committee’s work session focused first on ignition interlock device compliance. Traffic Safety Commission staff described a Yakima County pilot that provides enhanced probation supervision and support for DUI-affected drivers, reporting that compliance with interlock installation rose from roughly 16%–20% before the program to 41% after implementation among the medium- and high-risk population. Staff identified major barriers as cost, confusing and inconsistent procedures, and transportation access, and suggested policy changes such as allowing payment plans and simplifying compliance pathways. JLARC then presented its preliminary audit, estimating an overall 41% installation/completion rate statewide, finding that installation rates rise with income, that financial assistance reaches only about 11% of eligible users on average, and that the Department of Licensing and State Patrol need clearer coordination, goals, and a formal agreement to jointly administer the program. The State Patrol also reported on a Snohomish County outreach pilot that made 616 contacts, found many drivers were unaware of financial assistance, and identified some drivers as physically unable to drive, without vehicles, unable to afford the program, or subject to active warrants; the patrol said it would continue similar outreach in Yakima and use data analysis to target compliance efforts.
The committee then received a broader traffic safety update from the Traffic Safety Commission. Staff reported that serious injuries and fatalities in traffic crashes rose sharply over the last several years, though 2024 showed some improvement, including a 9% drop in fatalities and a 15% drop in impaired-driving fatalities from 2023. Pedestrian deaths remained high, while unrestrained and speeding-related fatalities also remained significant concerns. The commission also presented telematics-based research showing that targeted enforcement and visible police presence can reduce speeds; one project found each additional hour of officer presence per mile was associated with a 5.6 mph decrease in average speed. A second telematics project using opt-in insurance-based data showed high rates of phone use and speeding among drivers, and the commission said local agencies are using the tool for corridor-level enforcement planning and evaluation.
In public hearing, the committee heard Senate Joint Memorial 8016, which asks federal officials to treat the Fairfax Bridge closure and replacement as an emergency and to accelerate federal review. The sponsor and several supporters from Wilkeson, Carbonado, recreation groups, and nearby communities said the bridge closure has hurt tourism, emergency response, and access to Mount Rainier and surrounding recreation areas. Testimony was entirely in support, and the chair announced 67 pro and zero con sign-ins. The committee also heard Senate Bill 6230, which would require cash transactions to be rounded to the nearest five-cent increment in light of the Treasury’s decision to stop minting pennies. Staff explained the bill’s rounding rules and noted a Department of Licensing fiscal note of about $186,000 for technology changes; retail and food industry representatives supported the bill but asked for amendments on permissiveness, tax treatment, consumer protections, and local preemption.
During executive session, staff briefed several bills and substitutes, including snowmobile registration fee increases, gender-designation record confidentiality, streamlined salvage-title transfers, utility and fish-barrier-related changes, inflation adjustments for emergency state highway work thresholds, public-health authority language for the Traffic Safety Commission, special parking privilege renewal changes, expired registration enforcement, oil tanker tug-escort requirements, and transit board labor-member provisions. No final votes were taken in the portion of the meeting provided, though the committee waived the five-day notice to hear the day’s public hearing bills.
TX
Bills:
HB 346, HB 1360, HB 1510, HB 1606, HB 1804, HB 1805, HB 2156, HB 2391, HB 2767, HB 3022, HB 3044, HB 3272, HB 3293, HB 3493, HB 3809, HB 3824, HJR 110, HB 2463
Keywords:
expedited service, business records, veteran-owned businesses, franchise tax, fee schedule, Texas Ethics Commission, election reporting, campaign finance, violation categorization, penalties, public disclosure, Texas Utilities Code, electric utility, retail electric provider, municipally owned utility, electric cooperative, vegetation management, tree trimming, line clearance, transmission line
TX
Transcript Highlights:
- He had a very long-term, long-scheduled medical procedure, so we went to the medical center.
- Fridays are the past two days, so we're in schedule, and we want to be really careful.
Bills:
HB346, HB1360, HB1510, HB1606, HB1804, HB1805, HB2156, HB2391, HB2767, HB3022, HB3044, HB3272, HB3293, HB3493, HB3809, HB3824, HJR110, HB2463
Keywords:
expedited service, business records, veteran-owned businesses, franchise tax, fee schedule, Texas Ethics Commission, election reporting, campaign finance, violation categorization, penalties, public disclosure, Texas Utilities Code, electric utility, retail electric provider, municipally owned utility, electric cooperative, vegetation management, tree trimming, line clearance, transmission line
TX
Bills:
HB346, HB1360, HB1510, HB1606, HB1804, HB1805, HB2156, HB2391, HB2767, HB3022, HB3044, HB3272, HB3293, HB3493, HB3809, HB3824, HJR110, HB2463
Keywords:
expedited service, business records, veteran-owned businesses, franchise tax, fee schedule, Texas Ethics Commission, election reporting, campaign finance, violation categorization, penalties, public disclosure, Texas Utilities Code, electric utility, retail electric provider, municipally owned utility, electric cooperative, vegetation management, tree trimming, line clearance, transmission line
MO
Missouri 2026 Regular Session
2026 Legislative Session - Day Thirty Six - Wednesday, March 11
Missouri House Floor Meeting
Transcript Highlights:
- This is my bill that sets up depreciation for car valuations for taxation purposes.
- You make sure that vehicle assessments are predictable, sure that they will depreciate each year.
- Vehicle assessments are predictable, sure that they will depreciate each year, along with this chart.
- I'm not personally a fan of the depreciation schedule that he has there.
Summary:
The House convened with prayer and the Pledge of Allegiance, then approved the House Journal for the 35th day by a 115-1 roll call vote. Members spent much of the opening portion introducing a large number of special guests and visiting groups, including university alumni and students, ambulance and first responder personnel, hospice and behavioral health advocates, public administrators, educators, transportation stakeholders, and other community leaders recognized for service or advocacy work.
The chamber then received committee reports recommending passage of several measures, including House Bills 1625, 2383, 3035, 3205, and Senate Bill 888, along with committee substitutes for some of those bills. The House proceeded to third reading and passage on a long series of bills. Among the major measures were HB 2774, a fuel-source bill limiting state and local governments from dictating bids or purchases based solely on fuel source, which passed 138-5; HB 2383, addressing copper theft and related telecommunications equipment crimes, which passed 130-5; and HB 3205, regulating litigation funding and requiring disclosures, which passed 144-1.
Several bills drew extended debate. A combined bill on statutes of limitation and child sexual abuse claims, House Committee Substitute for HBs 1664, 1610, 1645, and 2182, passed 98-12 with 39 present after members debated both the abuse-related provisions and a separate reduction in the personal injury statute of limitations. HB 3146, dealing with ballot summary statements and the initiative petition process, passed 90-55 after sharp disagreement over whether it protected voters or undermined judicial review. Other measures passed with broad support, including HB 2146 on hospital investment options (143-1), HB 1756 establishing June’s Week to recognize rare pediatric diseases and families affected by them, HB 1783 on public health contracting (138-6), HB 2099 on expedited removal of squatters (136-1), HB 2896 loosening residency restrictions for university board appointments (111-17), HB 2505/2044 giving grandparents priority in certain custody cases (144-0), HB 1625 increasing penalties for drug trafficking (137-2), HB 2302 removing barriers to employment for people leaving incarceration (142-0), HB 3035 setting depreciation rules for vehicle tax valuation (100-43), HB 1870 updating debt collection and garnishment laws (137-9), HB 2335 giving school districts more flexibility over teacher training schedules (146-2), and HB 1827 allowing occupational therapists to certify disabled parking credentials (145-0).
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Higher Education Jun 21st, 2026 at 01:00 pm
Joint Committee on Higher Education
Transcript Highlights:
- legislation also calls for an advisory committee to provide input on the priority of uses and the schedule
- without a higher base appropriation, we cannot fully cover staff salaries, operating costs, and depreciation
- Operating costs and depreciation without RCC subsidy.
- Okay, in terms of anyone who signed up in advance to testify, that completes the witnesses we had scheduled
Summary:
The Joint Committee on Higher Education heard testimony on a wide range of bills touching student access, campus safety, and institutional support. Early testimony focused on H. 4544, which would create a state Hispanic-serving institution designation to replace a lost federal designation and potentially allow future funding. Representative Kushmerek and Fitchburg State President Donna Hodge described Fitchburg’s growing Latino student population, the university’s local commitments such as the Fitchburg Promise, and argued the bill would help the institution better serve its community. Committee members asked about how the tuition-free local program is financed, and the bill was described as having no immediate funding request but allowing for future appropriations.
The committee also heard support for H. 1421, a proposed John F. Kennedy Service Scholarship Program for Peace Corps, AmeriCorps, and Commonwealth Corps alumni, with Representative Arena DeRosa arguing that student debt discourages service and that the program would help make citizen service more accessible to lower- and moderate-income students. Members raised questions about cost, take-up, and whether the program should be capped. H. 1449, dealing with transcript withholding, drew support from Representative LeBoeuf and USPyre’s Demi Stoltz, who said withholding transcripts over small balances or non-academic fees traps students and harms workforce participation; members discussed how schools could still collect debts without blocking transcripts. The committee also heard testimony on a bill to improve study-abroad safety reporting, with Carrie Pascarello urging a centralized data system after multiple student deaths and serious incidents abroad, and members asking about how other states handle similar transparency measures.
Another major topic was H. 4113 on higher education sexual misconduct. Laura G. and Ashley Freeman supported a proposal aimed at preventing “passing the harasser” by requiring disclosure of substantiated findings or departures during open investigations in hiring processes. They said the bill would improve transparency and campus safety while preserving due process, and noted Washington State has a similar law. Members discussed whether the bill should be expanded to K-12 settings and asked about the Washington model’s effectiveness. The committee also heard from Mike Canavan of AFT Massachusetts in support of a bill to create a grant program for librarians to earn a master’s in library science, noting the credential is required for the profession but is not offered by any public institution in Massachusetts. No votes were taken, and the hearing concluded after all scheduled witnesses testified.
OK
Oklahoma 2026 Regular Session
Appropriations and Budget 2nd Revision: Oklahoma Department of Transportation will present at 10:30 a.m.
Appropriations and Budget
Transcript Highlights:
- data once a year and then we evaluate it to see where we've got problems out there, and again, the depreciated
- value and depreciation translates to deterioration.
- that go south into Texas. then there are Texans that come north into to Oklahoma because of that scheduling
- The Madill area, that what I would commonly refer to as a Madill bypass, it's still on schedule for construction
- I think we're going to stay on that schedule unless something really just comes out of left field.
WA
Washington 2025-2026 Regular Session
House Floor Session Feb 28th, 2026 at 09:00 am
Washington House Floor Meeting
Transcript Highlights:
- So the depreciation schedule is increased from, I think it's 8 to 13 years, up to 15 years, and also
- counts federal grants against their depreciation payments.
- We do this with MSOC, more demand on the levy, and then we do it with the depreciation schedule and the
- I've heard about bus depreciation, ...the value of that.
- We couldn't have trade-offs for bus depreciation or transition to kindergarten.
Bills:
HB2720, HB2073, HB2681, SB5467, SB5820, SB5863, SB5892, SCR8406, HB2487, HB2711, SB5816, SB5919, SB5995, SB6278
Keywords:
behavioral health, emergency services, health insurance, provider access, mental health funding, premium assistance, funding, healthcare, subsidies, cannabis, license fees, regulatory framework, revenue generation, legalization, SB 5467, water-sewer district, water sewer district, surplus property, public property sale, local government
KY
Kentucky 2026 Regular Session
Senate Standing Committee on Natural Resources & Energy. (3-4-26)
Natural Resources & Energy
Transcript Highlights:
- I mean, if it stayed on schedule, state and local is at 11:00. Okay.
- These investments create depreciation These investments create depreciation expenses<00:04:49.640><c>
- Uh, the fire alarm kind of messed with my schedule there.
- Uh, the fire alarm kind of messed with my schedule there.
- </c> of messed with my schedule there. of messed with my schedule there.
KY
Kentucky 2026 Regular Session
House Standing Committee on Natural Resources and Energy. (1-29-26)
Natural Resources & Energy
Transcript Highlights:
- And so the way depreciation works is the value of the assets are recovered over the full life of the
- And so the way depreciation works is the value of the assets are recovered over the full life of the
- over a thousand pages long where every asset is estimated for what its useful life is, the depreciation
- study, which is usually depreciation study, which is usually over<00:14:36.240><c> a</c><00:14:36.320
- rate, and what life is, the depreciation rate, and what that<00:14:42.800><c> cost</c><00:14:43.120>
KY
Kentucky 2026 Regular Session
House Standing Committee on Appropriations and Revenue (3-3-26)
Appropriations & Revenue
Transcript Highlights:
- It puts in that applicants need to have a plan for asset depreciation so that we're not constantly having
- then within the best management practices that KIA may require, it makes reference to that asset depreciation
- It puts in that applicants need to have a plan for asset depreciation so that we're not constantly having
- <00:08:52.320><c> to</c><00:08:52.440><c> that</c><00:08:52.680><c> asset</c><00:08:53.000><c> depreciation
- </c><00:08:53.640><c> as</c> reference to that asset depreciation as reference to that asset depreciation
WA
Transcript Highlights:
- PSC does oppose cuts to transition to kindergarten, local effort assistance, school bus depreciation,
- Finally, extending bus depreciation won't help us meet its greenhouse gas emissions.
- Thank you so much for the scheduled update to skilled nursing rates.
- Changing the electric bus depreciation model now, long after the fact, is a real slap in the face to
- Changing the electric bus depreciation model now, long after the fact, is a real slap in the face to
Bills:
HB2289
Keywords:
appropriations, budget, fiscal matters, state spending, general fund, supplemental budget, biennial budget, substitute bill, public defense, civil legal aid, courts, judicial branch, homelessness, supportive housing, affordable housing, behavioral health, juvenile rehabilitation, youth services, child welfare, foster care
AZ
Transcript Highlights:
- Okay, due to— Okay, due to some committee member schedules, we're going to have to adjust the order a
- I feel like when there's been changes that, for instance, flow into the Schedule A, which is when there's
- been changes that, for instance, flow into the Schedule A, which is technically after federal adjusted
- I feel like the big corporations that are going to be affected by the changes in depreciation and so
- Those we don't have adjustments for 179 expense, like you said, or bonus depreciation on those provisions
Summary:
The Senate Finance Committee heard a series of bills, many dealing with cryptocurrency and tax administration. SB 1042 would allow certain state retirement and treasury funds to invest up to 10% in virtual currency; SB 1043 would let state agencies accept cryptocurrency payments; SB 1044 and SCR 1003 would exempt virtual currency from property tax, with SB 1044 contingent on voter approval of the referral. All four measures advanced on 4-3 votes, with Democratic members largely opposing them as risky, speculative, and favoring wealthy crypto interests.
The committee also considered SB 1221, which would require the Department of Revenue to notify legislative tax chairs before adopting a new tax interpretation or application that would adversely affect taxpayers and to testify if a hearing is held. Supporters framed it as transparency and good governance, while opponents worried about added red tape and administrative burden. The bill passed 4-3. Another major item, SB 1142, would opt Arizona into a new federal scholarship tax credit program administered through certified scholarship-granting organizations; supporters said it would expand scholarship opportunities for public, charter, private, and homeschool students, while opponents argued it would deepen inequities, lack accountability, and divert resources from public schools. That bill also passed 4-3.
A lengthy discussion followed on the Department of Revenue’s press release about tax conformity and the governor’s executive order. DOR explained that the forms were issued assuming conformity with federal changes, including the standard deduction and certain below-the-line adjustments, and said taxpayers generally should file on time but may need amended returns if the Legislature later changes the law. Members pressed DOR on the cost and clarity of the guidance, with estimates that widespread amendments could cost the department about $20 million. Finally, the committee heard SB 1254, which would require both grantor and grantee signatures on real property conveyances before recording; county assessors said it would reduce deed-fraud risk and fix recording gaps. County officials from Maricopa and Mohave supported the bill.
AZ
Transcript Highlights:
- Okay, due to some committee member schedules, we're going to have to adjust the order a bit.
- I feel like when there's been changes that, for instance, flow into the Schedule A, which is technically
- federal itemized deductions since 1990. when there's been changes that, for instance, flow into the Schedule
- I feel like the big corporations that are going to be affected by the changes in depreciation and so
- Those we don't have adjustments for Section 179 expense, like you said, or bonus depreciation on those
Keywords:
public funds, virtual currency, bitcoin, investment, Arizona Strategic Digital Asset Reserve Act, state treasurer, retirement system, state payments, cryptocurrency, Arizona law, payment methods, government transactions, property tax, tax exemption, Arizona Revised Statutes, digital currency, workers' compensation, death benefits, burial costs, spousal compensation