Video & Transcript Research : 'payroll reporting'

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NM

New Mexico 2026 Regular Session

House - Appropriations and Finance Jan 15th, 2026 at 01:32 pm

House Appropriations & Finance

Transcript Highlights:
  • If you wish to follow along, the LFC volumes you'll notice the investment Smith Performance Report on
  • But this is a 60-page report that details our New Mexico investments.
  • Fiscal years 2024 to 2026 remain immature, and additional claims may be reported.
  • To date in FY26, we have not had any claims reported for the current fiscal year.
  • Sometimes this involves additional reporting.
Keywords: 996, all
AR

Arkansas 2026 1st Special Session

ALC-PEER Mar 17th, 2026

ALC-PEER

Transcript Highlights:
  • With that, we'll move on to the reports. Mr.
  • K-4 is the State Central Services Fund Report.
  • K-5 is the Education Adequacy Fund Report.
  • K-6 is the Medicaid Trust Fund report.
  • Chair, we have one last report on the agenda.
Summary: The committee considered a series of appropriation, fund transfer, and reserve requests across multiple agencies. Section B temporary appropriations included funding for state technology upgrades, personnel management staffing and IT skills assessment, court reporters and interpreters, crime victim claims, juvenile sex offender assessments, radiation lab testing, and higher education workforce grants and credentialing pathways. Additional items covered an ARPA grant for the University of Arkansas Fort Smith LPN program, an IIJA grant for the Oil and Gas Commission’s critical minerals work, a restricted reserve transfer for State Police vehicle purchases, a transfer to the Arkansas Heroes Program, and cash fund requests for the Real Estate Commission’s AV system and HVAC work. Most of these items were approved by voice vote. One budget classification transfer request from the Commissioner of State Lands drew extended questioning and was ultimately not approved. Members questioned the $250,000 transfer to operating expenses tied to the purchase of a West Little Rock office building, the ongoing lease costs at the prior location, and whether the agency had adequately planned for building-related expenses. After discussion, the motion failed, and members told the agency to tighten spending and return if needed. The committee then took up 15 pay plan appropriation requests totaling $25.7 million and approved them after discussion with DFA, DHS, Corrections, and the State Board of Election Commissioners. Members focused heavily on DHS staffing shortages at human development centers, where officials said vacancies and turnover were driven by overtime and burnout rather than pay alone; one member asked DHS to submit a written plan to address the issue. Corrections reported the pay plan had improved hiring and retention. The committee also approved overtime appropriations for Emergency Management and Military. Reports on reserve funds, the Budget Stabilization Trust Fund, tobacco settlement, State Central Services, Education Adequacy, Medicaid Trust, IIJA, and revenue transfer activity were received. The Medicaid Trust Fund report prompted significant concern about February’s $90 million draw; DHS said the month was unusually high because of cash-flow timing and that the fund should end the year with a balance between $150 million and $200 million, while lawmakers noted a second $100 million set-aside is planned for FY27. The final discussion centered on DHS’s state hospital damage claim and reconstruction funding, where members expressed disappointment that insurance reimbursement would likely return only about $1.8 million now and possibly about $97,000 more later, far less than the roughly $5 million initially expected. DHS explained the policy was based on actual cash value and depreciation for old buildings, and said the work would proceed on Unit 3 for secured restoration because it was the most cost-effective option.
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Revenue Jun 21st, 2026 at 10:00 am

Joint Committee on Revenue

Transcript Highlights:
  • The price tag of those contributions, how much medical leave and family leave costs in payroll taxes
  • that, or the employer rather, to report that in the IRS guidance.
  • To report that, or the employer rather, to report that in their workers' W-2, subject to all of the taxes
  • Right now, they report everything on a 1099.
  • Reporting everything on a 1099 to the workers, um, easing their operations.
Keywords: 995, all
Summary: The Joint Committee on Revenue held a public hearing on H. 4975, Governor Healey’s bill to manage the impact of the federal “One Big Beautiful Bill” (OB3) on Massachusetts tax law and state revenues. Administration officials, led by Secretary of Administration and Finance Matt Gorowitz, said OB3 would otherwise reduce FY26 revenue by about $442 million and argued for a phased-in conformity approach that would preserve the current-year budget while still adopting selected federal business tax provisions over time. The proposal would phase in the research and experimental expenditure deduction first, delay other major corporate provisions for two years, extend the pass-through entity excise to income subject to the 4% surtax, add a one-year delay mechanism for future federal tax changes over $20 million, limit opportunity zone benefits to Massachusetts investments, and make smaller technical changes to DFML contributions and casino reporting thresholds. Committee members questioned the rationale for phasing in rather than fully decoupling, the effect on the budget if the bill did not pass, and the treatment of opportunity zones, the surtax, and future federal tax changes. Public testimony was split. MassBudget, Progressive Massachusetts, and several labor and public-sector groups urged the committee to permanently decouple from the federal corporate tax changes rather than delay them, arguing that the bill would still send state revenue to corporate tax breaks, often for investments outside Massachusetts, and that the state should protect funding for schools, health care, human services, and other public services. The Massachusetts Society of CPAs supported the administration’s timing and the research-and-development provisions, citing filing deadlines and the importance of certainty for businesses and startups. Business and tax experts also testified that rushed conformity can create revenue losses and that the governor’s review-and-delay framework was a prudent improvement, though some said decoupling should be the default if the Legislature does not act. Unite Here Local 26 testified against sections 3 and 4, which would raise the slot-machine jackpot reporting threshold from $1,200 to $2,000, arguing the current threshold helps with problem-gambling intervention, preserves slot attendant jobs, and generates revenue. Several union leaders, including the Massachusetts Teachers Association, AFT Massachusetts, SEIU 509, the Massachusetts Building Trades, the AFL-CIO, and 1199 SEIU, urged permanent decoupling, warning that OB3’s federal tax cuts and related spending reductions would worsen budget pressures, harm public services, and shift costs onto workers, patients, and schools. No votes were taken at the hearing.
MN

Minnesota 2025-2026 Regular Session

February 2026 State Budget and Economic Forecast Presentation - 2/27/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • Also missing are situation report.
  • An example of that would be work reporting requirements for Medicaid.
  • example of that would be work reporting example of that would be work reporting requirements<00:
  • think the chamber uh benchmark uh report think the chamber uh benchmark uh report does<01:21:47.760
  • Read the Chamber of Commerce benchmark report. I think it lays it out pretty well.
Keywords: 1187, senate, all
MN

Minnesota 2025-2026 Regular Session

Committee on Judiciary and Public Safety - 02/07/25

Judiciary and Public Safety

Transcript Highlights:
  • through their daily work without being sexually harassed and assaulted, and that they have ways to report
  • Some of it goes to cover agency operating costs, but overall 90% of our expenses are payroll, rent, and
  • <00:23:57.400> our 90% of our expenses are our payroll our 90% of our expenses are our payroll
  • This last reporting period, we expect that to increase even further, and we're already seeing signs of
  • This last reporting period, we expect that to increase even further, and we're already seeing signs of
Keywords: 1187, senate, all
HI
Transcript Highlights:
  • time between the review period and when employers would have to provide additional payments and reporting
  • Fund to cover the cost of startup to administer this chapter before and during the first year of payroll
  • during the first year of payroll during the first year of payroll contributions<00:54:50.960>
  • <00:55:28.720> in<00:55:29.119> the<00:55:29.319> committee<00:55:29.720> report
  • <00:55:30.480> the be noting in the committee report the be noting in the committee report
Keywords: 910, house, all
MN

Minnesota 2025-2026 Regular Session

Senate Floor Session - 05/05/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • reports. All in favor say I. reports. All in favor say I.
  • transparency and reporting. transparency and reporting.
  • report Senator Carlson votes no. report Senator Carlson votes no.
  • payroll tax. payroll tax.
  • This is just a report. We are adding This is just a report.
Keywords: 918, senate, all
Summary: The Senate convened under a call, established a quorum, received the House message on Senate File 4807 concerning benefits for veterans of the secret war in Laos, and voted not to concur in the House amendments, appointing a three-member conference committee. The chamber also received a batch of House files, laid several of them on the table, and adopted committee reports and other routine motions. Senate Resolution 84 was referred to the Committee on Rules and Administration, and Senator Murphy designated special orders for immediate consideration. The main floor debate centered on Senate File 4059, the supplemental finance omnibus bill. Senators described the bill as a slim, supplemental budget focused on urgent affordability needs, including $52 million for state grants in higher education, $15 million for LIHEAP, school district compensatory revenue adjustments, support for public television stations facing federal cuts, Medicaid fraud enforcement, and consumer restitution for scam victims. The Jobs article was presented first, with roughly $4.9 million in Workforce Development Fund appropriations for workforce and job-training programs, including support for rural oncologist training, homelessness-related employment programs, youth training, local news talent development, transportation-related employment assistance, and manufacturing support. Several amendments were offered and debated. Senator Farnsworth offered the A14 amendment to extend unemployment benefits for laid-off Iron Range miners, but withdrew it after being told it would unbalance the bill and after receiving a commitment to continue working on the issue in conference committee. Senator Draheim offered the A18 amendment to redirect Cookie Cart funding to rural hospital maternity training grants; after debate, the Senate rejected the amendment by a roll call vote of 32 ayes and 34 nays. The discussion emphasized competing priorities between youth workforce programs and rural health care needs. The Senate then moved into Article 1 on K-12 education, where Senator Kunesh outlined provisions including anti-grooming language, a district health insurance reporting requirement, extension of a gender-neutral bathroom grant, compensatory hold-harmless aid, operating capital flexibility, literacy aid hold harmless language, and several cost-neutral district fund transfers. Senator Nelson offered the A29 amendment to require school sports teams and participants be designated by biological sex at birth; debate on that amendment began near the end of the transcript, but no final vote was shown before the excerpt ended.
MN

Minnesota 2025-2026 Regular Session

Committee on Human Services - 07/01/26

Human Services

Transcript Highlights:
  • trying to be conscientious and report trying to be conscientious and report the<00:31:40.399>
  • :52:54.720> that<00:52:55.040> didn't the OPTIM report, uh that didn't the OPTIM report
  • They can't make payroll.
  • Now you report it. They just moved PCA. Now you report it.
  • something to have the optimum report something to have the optimum report released<02:25:47.359>
Keywords: 1187, senate, all
NH
Transcript Highlights:
  • No, that's a good point, and that's part of our experience study, is to look at payroll growth.
  • is to look at payroll growth and we have is to look at payroll growth and we have had<03:51:11.920>
  • Um so th yes those those less payroll Um so th yes those those less payroll growth<03:51:31.439>
  • is less because just say overall payroll is less because you<03:51:45.279> have<03:51:45.359>
  • my argument about the Kipling report my argument about the Kipling report that<04:59:57.760>
Keywords: 928, house, all
Summary: The Committee of Conference on HB 1 and HB 2 met to review revenue estimates and begin working through the HB 1 detail change sheet. New Hampshire Lottery Director Charlie McIntyre reported stronger-than-expected lottery performance, raising the current-year return estimate to $27 million and the next biennium estimate to $200 million, with the increase attributed to improved scratch ticket sales and sports betting not hurting revenue as much as expected. Members questioned the assumptions behind the higher estimates, including the impact of $50 scratch tickets and whether the figures accounted for future conversion from historical horse racing (HHR) machines to video lottery terminals (VLTs). McIntyre and committee members discussed machine counts, per-day revenue assumptions, and the likelihood that VLT conversion would increase revenues over time, though the timing and pace of conversion remained an open question. The committee also discussed several gaming-related policy items in HB 2, including changes to kino hours and local option games of chance, and noted that the Senate and House differed on how gaming revenues would be allocated between charities, education, and general funds. Members emphasized that revenue projections should remain conservative because operators, not the state, would control the pace of machine conversion. Representative Sweeney noted that operators could earn more per machine under the VLT model, and McIntyre said the new facilities and expansions were largely concentrated near the Massachusetts border. The committee then moved to the HB 1 detail change sheet. It agreed to Senate position on the Department of Safety’s road toll bureau and international registration program changes, which were described as a zero-cost realignment of positions, and held the Department of Corrections section for later discussion. On the judicial side, members approved a technical footnote fix, but held a new contract counsel item for involuntary mental health admissions and deferred discussion of the public defender program increase. The committee also noted no change for the PE development authority, moved safety rest area funding from HB 2 into HB 1 with no additional cost, and flagged the tourism development fund and other judicial items as issues that may depend on overall available revenue.
OK
Transcript Highlights:
  • the oath of office and the loyalty oath, and please keep in mind that you cannot be added to the payroll
  • Keep in mind that you cannot be added to the payroll unless these documents are signed, so it’s very
Keywords: 914, all
Summary: The House convened for the swearing-in ceremony of Representative-elect Dillon Travis. The ceremony included an invocation by House chaplain Ronnie Wilson, the Pledge of Allegiance led by Speaker Pro Tem Anthony Moore, and administration of the oath of office by Chief Justice Dustin Rowe. Travis also signed the required oath and loyalty documents. In remarks surrounding the ceremony, House leaders noted the significance of holding the swearing-in on FFA Day and highlighted Travis’s background as a former FFA member from the Cleveland FFA chapter. Travis thanked his wife, family, and friends, said FFA played a major role in shaping his life, and emphasized his commitment to supporting rural Oklahoma. No legislation was considered and no votes were taken; the only formal action was the swearing-in of Representative-elect Travis.
MN

Minnesota 2025 1st Special Session

Committee on Judiciary and Public Safety - Part 2 - 03/27/25

Judiciary and Public Safety

Transcript Highlights:
  • theft so um employee uh the payroll theft so um employee uh the payroll should<00:08:58.399>
  • and<00:09:25.560> that 40-day period to remit payrolls and that 40-day period to remit payrolls
  • <00:49:02.559> suspected matter U for reporting suspected matter U for reporting suspected
  • Health a person could make a mark report Health a person could make a mark report a<00:50:08.799
  • > a maltreatment report related to a maltreatment report related to retaliation<00:50:11.680> so
Keywords: 1187, senate, all
TX

Texas 89th 2nd C.S.

89th Legislative Session Jun 2nd, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Payroll and Personnel Department head Rob Morgan and his staff.
  • to explain the report.
  • Speaker, I move passage of the conference committee report on Senate Bill 293.
  • Being 114 ayes and 26 nays, the conference committee report is adopted.
  • Being 114 eyes and 26 nays, the conference committee report is adopted.
Summary: The House met on sine die and began with prayer, pledges, quorum verification, and a series of announcements and recognitions. The chamber received Senate messages reporting adoption of conference committee reports on SB 268 and SB 2972, and Senate concurrence in House amendments to SB 1637. Members also referred several resolutions and announced the signing of numerous House and Senate measures by the presence of the House. Technical correction resolutions were adopted: HCR 171, authorizing corrections to HB 46, passed 138-0, and SCR 55, making a wording correction in SB 1964, passed 126-12. A large portion of the meeting was devoted to memorials and recognitions. The House honored Pastor Dave Welch, with several members offering condolences and reflections on his work organizing pastors and engaging in civic life, followed by a moment of silence. Members also recognized the Ganado High School Maidens for winning the 2025 UIL 2A Division I softball state championship, Waco police K-9 Andor after being shot in the line of duty, Region 7 DPS for Capitol Complex security, and various restaurants, staff members, interns, caucus staff, and caucus freshmen of the year across Republican, Democratic, Black, Progressive, LGBTQ, IT, Energy and Climate, and Mexican American Legislative Caucuses. The chamber also heard a retirement-style address from Rep. Tony Tinderholt, who reflected on his six sessions in the House, his military service, and his decision to step aside to focus on family, while colleagues from both parties praised his service, discipline, and willingness to work across differences. The House then continued with additional staff and caucus recognitions, including committee staff, district office staff, and interns, with members repeatedly thanking their teams for their work during the session.
WA
Transcript Highlights:
  • Now, the revenue source at the heart of the Well Washington Fund is a corporate payroll tax on annual
  • Can I ask a question about which outlet you report for? The Center Square.
  • And have you reported at all on AI in the last year or a couple of years? Not so much.
  • Can I ask a question about which outlet you report for? The Center Square.
  • And have you reported at all on AI in the last year or a couple of years? Not so much.
Summary: The meeting was a press conference and Q&A led by Rep. Shaun Scott to promote the proposed Well Washington Fund, a new dedicated account intended to raise about $3 billion annually through a corporate payroll tax on wages above $125,000. Scott said the bill would help offset expected federal cuts under Trump-era policies and support programs most at risk, including cash assistance, higher education, health care, housing, and wildfire mitigation. He also referenced two related proposals: restoring wildfire mitigation funding by ending a tax break for large banks, and allowing counties to raise corporate taxes. Several advocates and affected residents testified in support of progressive revenue. Michelle Thomas of the Washington Low Income Housing Alliance warned that federal homelessness policy changes and state underinvestment could worsen homelessness and evictions. Christina Savitsky, a disabled veteran, described how Medicaid, food assistance, and work requirements would affect her family. Representatives from the University of Washington AAUP said federal cuts and Medicaid changes threaten teaching, research, workforce training, and hospital finances. Fatima Boxwala of Tech for Taxes and Mikey Stramskis of the Washington Federation of State Employees argued that large corporations and the wealthy should pay more to sustain public services and address understaffing, burnout, and service backlogs. In the Q&A, Scott said the bill may need an emergency clause to make it referendum-proof and argued that the legislature has a mandate to act, citing the 2024 capital gains tax referendum and the state’s regressive tax system. He acknowledged concerns about businesses leaving but said he was more concerned about working people being displaced by unaffordable housing, child care, and health care. No vote or formal committee action occurred; the event was a call for a hearing in the House Finance Committee in 2026 and for legislative passage in both chambers.
AR

Arkansas 2026 Regular Session

ALC-PEER Mar 17th, 2026

ALC-PEER

Transcript Highlights:
  • With that, we'll move on to the reports. Mr.
  • K-4 is the State Central Services Fund Report.
  • K-5 is the Education Adequacy Fund Report. K-5 is the Education Adequacy Fund Report.
  • K-6 is the Medicaid Trust Fund report.
  • Chair, we have one last report on the agenda.
Summary: The committee considered a series of appropriation, transfer, and review items, approving most requests in Sections B through J. These included temporary appropriations for state technology upgrades, personnel management, court reporters and interpreters, crime victim claims, juvenile sex offender assessments, radiation lab testing, higher education workforce grants, an ARPA grant for the UAFS LPN program, an IIJA grant for geological/critical minerals work, a restricted reserve transfer for 102 State Police vehicles, a transfer to the Arkansas Heroes Program, several cash fund requests for the Real Estate Commission HVAC and AV needs, and overtime appropriations for Emergency Management and Military. One budget classification transfer request from the Commissioner of State Lands for $250,000 to cover operating expenses tied to a new building was discussed at length but failed on the vote after questions about the lease and operating costs. A major portion of the meeting focused on a $25.7 million pay plan appropriation request for 15 agencies. Members questioned why the Department of Human Services had not requested additional pay-plan dollars for human development centers, where DHS acknowledged staffing shortages, high turnover, and heavy overtime but said the issue was not lack of pay-plan funding. DHS was asked to provide a written plan to address staffing problems. The Department of Corrections testified that the pay plan had improved retention and hiring, and committee members asked for follow-up data on vacancies and staffing outcomes. Members also clarified that the pay-plan request was appropriation only, not new funding, and approved it. The committee then reviewed fund reports, including the restricted reserve, Budget Stabilization Trust Fund, Tobacco Settlement, State Central Services, Education Adequacy, Medicaid Trust Fund, IIJA, and Revenue Services transfer reports. DHS and DFA were questioned closely about the Medicaid Trust Fund, with members noting a $90 million February draw and asking about projected year-end balances; DFA and DHS said February was a high-expense, low-revenue month and projected the fund would remain solvent through the fiscal year, ending between $150 million and $200 million, while a second $100 million set-aside is planned for FY27. The committee also discussed a state hospital damage report, where DHS explained that insurance proceeds would not fully cover the repair costs because of depreciation and the age of the buildings; members expressed concern that the state would recover far less than originally expected, and DHS said any additional insurance recovery would be limited and returned to restricted reserve.
AR

Arkansas 2026 1st Special Session

ALC-PEER Mar 17th, 2026

ALC-PEER

Transcript Highlights:
  • With that, we'll move on to the reports. Mr.
  • The second page of the report...
  • K-5 is the Education Adequacy Fund Report.
  • K-6 is the Medicaid Trust Fund Report.
  • Chair, we have one last report on the agenda.
Keywords: 1204, all
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 4/8/26

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • payroll, utilities, and inventory. payroll, utilities, and inventory.
  • I'm here today to report I'm here today to report on<01:06:38.520> um on um on um an<01:06
  • <01:09:34.319> being continue to operate 207 reported being continue to operate 207 reported
  • <01:09:57.600> reserves reporting having no cash reserves reporting having no cash reserves
  • ><01:10:06.240> the<01:10:06.400> regular reported no reserves beyond the regular reported
Bills: HF4477
AR

Arkansas 2026 1st Special Session

ALC-CLAIMS REVIEW/LITIGATION REPORTS OVERSIGHT Mar 16th, 2026

ALC-CLAIMS REVIEW/LITIGATION REPORTS OVERSIGHT

Transcript Highlights:
  • “So we come here and report on the status of them before your commission. It’s just to report.
  • Just to report, but why don’t they just say dismissed on their report to us?
  • So how did we miss $27,000 in someone's payroll? So how did we miss $27,000 in someone's payroll?
  • Has this been reported to the Legislative Council? I haven't seen this.
  • Are you saying was what reported, this lawsuit? Or... ...loss.
Keywords: 1204, all
NM

New Mexico 2025 Regular Session

Senate Chamber Mar 22nd, 2025

New Mexico Senate Floor Meeting

Transcript Highlights:
  • President, unanimous consent to go to our Business Committee reports. reports.
  • Senator Muñoz moves adoption of the committee reports.
  • The committee report has been adopted.
  • Barker's report, I think was the one that did this. Is that right?
  • President and Senator, if those reports are requested, are they subject to IPRA?
LA
Transcript Highlights:
  • I mean, as soon as we issued them, businesses would implement that in their payroll.
  • And it would be payroll companies that would be the most impacted. And what would you adjust it to?
  • This is just what's required to report on at REC.
  • These are just what we're reporting on here.
  • There's no motion necessary, so we thank you for your report. Thank you. Other business?
Summary: The Revenue Estimating Conference met with four members present and first approved the prior meeting minutes and recognized the FYI end-of-balance of $577,077,871 as nonrecurring revenue. The main business was revising the state revenue forecast for FY 2026, FY 2027, and the long-range outlook. The Division of Administration recommended a $113 million reduction to the FY 2026 State General Fund forecast and a $104 million reduction for FY 2027, citing weaker-than-expected individual income tax collections, softer corporate income tax receipts, and some weakness in general sales tax, partly offset by stronger motor vehicle sales tax and higher mineral-related revenues tied to oil prices. The Legislative Fiscal Office presented a somewhat different but broadly similar forecast, with modest net increases to the general fund bottom line in the current year and next year, emphasizing caution on income and corporate taxes and more optimism on sales, severance, royalties, and some other revenue streams. A substantial portion of the discussion focused on the causes of the income tax shortfall, especially withholding and refund patterns after tax changes that lowered rates. Department of Revenue officials explained that withholding tables had been set with a cushion that may be producing larger refunds, and said changing the tables could quickly reduce overwithholding, though the effect would take time to show up. Members also discussed corporate collections, the lingering effects of the franchise tax repeal, the role of settlements and audits, and the extent to which collections are voluntary versus enforcement-driven. The Department of Revenue said corporate collections still had key filing and estimated-payment milestones ahead in May and June, and that refund and audit activity related to the former franchise tax would continue for some time. The conference then adopted the Division of Administration’s FY 2026 forecast, the FY 2027 recurring forecast, and the long-range forecast, along with the proposed inflation rates for the Millennium Trust and parish severance allocation. Members also adopted the incentive expenditure forecast, noting that the reported amount is only the REC-reported portion and that larger tax exemption amounts come off the top before appropriations. The Treasurer reported a General Fund cash balance of about $404.1 million as of May 5, 2026, and an interfund borrowing base of about $9.18 billion, saying cash levels were similar on average to the prior year. The meeting ended with a note that another REC meeting might be needed depending on the May 16 election, and the conference adjourned without objection.
LA
Transcript Highlights:
  • I mean, as soon as we issued them, businesses would implement that in their payroll.
  • And it would be payroll companies that would be the most impacted. And what would you adjust it to?
  • This is just what's required to report on at REC.
  • These are just what we're reporting on here.
  • There's no motion necessary, so we thank you for your report. Thank you. Other business?
Keywords: 965, house, all
Summary: The Revenue Estimating Conference met with four members present and first approved the December 11, 2025 minutes. Members then recognized the FYI end-of-balance of $577,077,871 as non-recurring revenue. The main business was revising the state revenue forecast for FY 2026, with the Division of Administration recommending a reduction of about $113 million, driven primarily by weaker individual income tax collections, softer general sales tax receipts, and a substantial cut to corporate income tax forecasts. The Legislative Fiscal Office presented a somewhat different but still cautious outlook, and members discussed withholding rates, refund growth, corporate collections, and the effects of the franchise tax repeal and tax reform changes. After questions to the Department of Revenue about collections, refunds, enforcement, and settlements, the conference adopted the Division of Administration’s FY 2026 forecast. The conference then reviewed the FY 2027 recurring forecast. The Division of Administration again recommended a reduction, this time about $104 million, citing continued caution on individual income and corporate taxes, while the Legislative Fiscal Office projected a net increase of about $127 million, largely from sales tax, severance, royalties, vehicle sales tax, and other revenue streams. Members discussed the practical budget impact of the revised forecasts, including the need to reduce spending and the difficulty of funding a possible teacher stipend if a constitutional amendment fails. The FY 2027 recurring forecast was adopted. Members also adopted the long-range forecast, the proposed inflation rates for the Millennium Trust and parish severance allocation, and the incentive expenditure forecast. The incentive discussion noted that reported incentive costs reduce available revenue before appropriations, and members raised the possibility of reviewing or capping such incentives. The Treasurer’s Office then reported that the General Fund cash balance was $404.1 million as of May 5, 2026, and the interfund borrowing base was about $9.18 billion, with cash positions generally similar to the prior year. The meeting ended with a note that another REC meeting might be needed after the May 16 election, followed by adjournment.