Transcript Highlights:

• Going forward, any tax exemption bills would only be for the state sales tax exemptions, but allowing
• The sales tax holiday...
• Already, the sales tax holiday for schools, for example, the sales tax holiday for disaster expenses.
• ... ...would make them taxes.
• Taxes that we are responsible for.

Bills: HB191 , HB196 , HB134 , HB14 , HB14

Committee: House County and Municipal Government

Transcript Highlights:

• taxes? taxes?
• a tax broadbased tax in to impose such a tax broadbased tax in New<01:31:32.239><c> Hampshire.
• tax that we should tax or impose a sales tax that we should have<01:32:06.639><c> bipartisan</c><01:
• I think tax base. Instead, we're tax base.
• </c> incur that tax. incur that tax.

Committee: House Ways and Means

Transcript Highlights:

• As Dave Ramsey said, they can pay the stupid tax, right?
• They're not waiving the tax. They're waiving the penalty. But they still have to pay the taxes.
• You still have to pay your taxes.
• Pays over $100,000 in property taxes a year. $100,000 in property taxes a year. $100,000.
• The tax penalty component was, at the time, a logic point to say, good actors pay their taxes on time

Committee: House Special Committee on Intergovernmental Affairs

Summary: The committee first took up House Bill 2388 in executive session, considering a substitute that would combine two bills, add counties to the measure, and impose a felony penalty with a $100,000 fine for certain false claims. After Representative Black objected to the size of the fine and members discussed possibly amending it, the sponsor withdrew both the substitute and the motion to do pass, and the bill was set aside for reconsideration later. The committee then heard House Bill 3381, which would allow counties and certain cities to waive penalties on delinquent property taxes in hardship cases. The sponsor and several supporters, including a Clay County commissioner and a state public advocate, argued the bill would give local officials flexibility to help taxpayers who were delayed by events beyond their control, such as illness, theft, postal delays, or banking errors, while still requiring the underlying taxes to be paid. Members raised questions about proof of hardship, how the bill should be drafted, and whether local retirement funding tied to late fees would be affected. A representative of the county employees’ retirement fund testified in informational opposition, explaining that a portion of county tax penalties—about $20 million to $25 million annually—helps fund the retirement system and that waiving penalties would reduce that revenue. He said the fund was not opposed to flexibility for difficult cases, but wanted the committee to understand the fiscal impact and suggested that counties could instead appropriate money directly if they wanted to preserve funding. No final vote was taken on House Bill 3381 before the committee adjourned.

Transcript Highlights:

• and the business profits tax, as well as the meals and rooms tax.
• My tax quadrupled.
• elderly tax credit, that tax credit is granted.
• elderly tax credit, that tax credit is granted.
• So it raises every time they issue a tax credit somebody else's tax bill goes up.

Committee: Senate Ways and Means

Transcript Highlights:

• </c> on their taxes. on their taxes.
• </c> with sales tax, who are we taxing? with sales tax, who are we taxing?
• tax is a shell sales tax or an income tax is a shell game. game. game.
• </c> severance tax and the severance taxes severance tax and the severance taxes that<02:01:03.840><c
• </c> severance tax. severance tax.

Transcript Highlights:

• They do not need our tax breaks.
• He does not need a tax break. Who needs a tax break?
• They do not need our tax breaks.
• He does not need a tax break. Who needs a tax break?
• Who needs a tax break? People in break. Who needs a tax break?

Transcript Highlights:

• This is not a tax law change.
• and would be subject to the tax.
• We are an income tax dependent state.
• and corporate tax reductions.
• Income tax and corporate tax reductions. So it has very much a placeholder for a range.

Summary: The Financial Estimate Committee met on July 6, 2026, to begin work on the financial estimate for IP 28, after reviewing the statutory process and confirming that only IP 28 had cleared the signature threshold for consideration. Staff explained the committee’s duties under ORS 250.125 and the timeline for draft statements, public hearing, and final adoption. The committee also designated Carol Moreno C. Fuentes to file the committee’s eventual statements. Staff from the Department of Administrative Services and the Legislative Revenue Office presented preliminary analysis of IP 28, describing major uncertainties in estimating impacts because the measure is not a tax law change and would affect multiple industries and government functions. Preliminary figures discussed included an estimated $56.5 million loss in the current biennium and $6.7 million in reduced expenditures, with larger projected revenue losses of roughly $244.1 million to $258 million and reduced expenditures of $30.7 million to $34.9 million in 2027–29, plus $87.8 million to $88.3 million in increased expenditures. Analysts said the biggest effects would likely involve agriculture, fish and wildlife, hunting and fishing, local government enforcement, and possible shifts in state funding, but many impacts remained difficult to quantify. Committee members raised concerns about local government costs, law enforcement and prosecution burdens, impacts on the hospitality and recreation sectors, possible effects on tribal governments and treaty rights, and whether the measure would affect shellfish and crabbing. They also discussed the Humane Transition Fund, subsidies, possible litigation costs, and whether the statement should include broader uncertainty language and multiple scenarios. Members generally agreed the draft should be revised to better reflect uncertainty, clarify assumptions, and possibly use bullets or other formatting to improve readability. No vote was taken. The committee agreed to treat the current draft as a working version, with staff to revise it based on the discussion and return an updated draft before the next meeting scheduled for July 17 at 2 p.m., with both in-person and virtual participation available.

Transcript Highlights:

• An act to amend the tax law in relation to accepting the payment of sales tax and purchase of certain
• An act to amend the tax law in relation to establishing a sales tax exemption for energy storage.
• An act to amend the tax law in relation to establishing a sales tax exemption for energy storage.
• An act to amend the tax law in relation to exempting school supplies from sales tax during a specific
• An act to amend the tax law in relation to designating revenue collected by the opioid excise tax for

Committee: Senate Budget And Revenue

Summary: The Senate Budget and Revenue Committee met for its first meeting of 2026 with a quorum present and considered nine bills, mostly tax-related measures. Bills discussed included S196 on the public safety surcharge, S939 on gifts to the affordable housing for veterans and seniors fund, S985A on sales tax treatment for feminine hygiene products, S1140A on a tax on non-essential helicopter and seaplane flights in cities of one million or more, S1145 on increasing contributions to family tuition accounts, S1527 on a sales tax exemption for energy storage, S4601 on a temporary sales tax exemption for school supplies, S7641 on dedicating opioid excise tax revenue to the Drug Treatment and Public Education Fund, and S7875 on ending the sales tax exemption for precious metal bullion held for investment. Most bills were advanced without significant opposition and were reported to the Finance Committee. S985A and S4601 were reported to the calendar/Finance after brief discussion; S4601 drew one negative vote. S1140A also advanced, with two no votes. S7875 received the most discussion, with the sponsor arguing that repealing the bullion exemption would recover an estimated $600 million in foregone revenue and better align with affordability concerns; it was reported to Finance with one member recorded as without recommendation. Members generally framed the bills as affordability or revenue measures, citing rising costs for families, school supplies, housing, and the need to redirect or recover tax revenue. The meeting concluded after all agenda items were moved and reported.

Transcript Highlights:

• But that requires that when voters approve a new tax increase on the ballot, that tax increase has to
• But the irony to this is you were saying the taxing district should tax at a higher level than they need
• They're sitting on the ability to tax.
• Because we don't know what our taxing jurisdictions are actually going to tax at, what the rate's going
• Most taxing jurisdictions, most school boards, most fire districts, those who charge property taxes,

Transcript Highlights:

• So the taxes, are they sales taxes possibly going to be in this district? Sales taxes?
• So these taxes already exist. So these taxes already exist.
• So the taxes that you're talking about are already sales taxes.
• So there's state sales taxes, or rather state and local sales taxes.
• Well, your answer was these taxes already existed. They do not—these aren't new taxes.

Bills: HR286 , HR287 , HR288 , HR289 , HR290 , HR291 , HR292 , HR293 , HR294 , HCR114 , HR275 , HR276 , HR277 , HR278 , HR279 , HR280 , HR282 , HR283 , HR284 , HR285 , HCR112 , HCR113 , SCR62 , SCR64 , SB132 , SB135 , SB405 , HR179 , HR216 , HR223 , HR225 , HR274 , HCR89 , SB39 , SB99 , SB111 , SB112 , SB124 , SB134 , SB174 , SB189 , SB190 , SB201 , SB233 , SB236 , SB258 , SB270 , SB273 , SB288 , SB307 , SB313 , SB320 , SB321 , SB325 , SB326 , SB331 , SB339 , SB341 , SB345 , SB346 , SB347 , SB353 , SB357 , SB359 , SB387 , SB393 , SB401 , SB415 , SB419 , SB422 , SB426 , SB435 , SB437 , SB440 , SB451 , SB464 , SB470 , SB487 , SB488 , SB495 , SB504 , SB505 , SB518 , SB523 , SB228 , SB408 , HR168 , HR174 , HR194 , HCR54 , HCR74 , HCR79 , HCR87 , HCR94 , HCR95 , HCR97 , HCR98 , HCR102 , HCR104 , SCR23 , SCR38 , HCR26 , HB250 , HB265 , HB339 , HB427 , HB445 , HB463 , HB468 , HB606 , HB639 , HB649 , HB665 , HB746 , HB781 , HB853 , HB861 , HB872 , HB886 , HB916 , HB937 , HB1054 , HB1068 , HB1117 , HB1237 , HB75 , HB705 , SB34 , SB164 , SB172 , SB198 , SB208 , SB232 , SB281 , SB286 , SB317 , SB322 , SB334 , SB380 , SB385 , SB409 , SB417 , SB421 , SB430 , SB439 , SB447 , SB458 , SB510 , SB54 , SB56 , SB72 , SB79 , SB97 , SB105 , SB123 , SB125 , SB129 , SB163 , SB171 , SB252 , SB287 , SB375 , SB386 , SB461 , SB466 , HR84 , SCR3 , HB582 , HB625 , HB646 , HB998 , HB1191 , HB1255 , SB81 , SB100 , SB109 , SB197 , SB374 , SB479 , SB78 , HB901 , HR20 , HR74 , HCR65 , HCR71 , HB284 , HB302 , HB306 , HB341 , HB366 , HB393 , HB458 , HB577 , HB603 , HB605 , HB614 , HB733 , HB752 , HB773 , HB798 , HB911 , HB955 , HB996 , HB1035 , HB1069 , HB1113 , HB1140 , HB1180 , HB1240 , SB82 , SB89 , HB134 , HB258 , HB359 , HB782 , SB149 , SB382 , SB441

Summary: The House met with a quorum, received a guest minister for prayer, approved the journal, and heard several announcements and recognitions, including NEC Awareness Day, a European Union delegation visit, and the Glenmore Wildcats baseball team’s state championship. Members also received Senate messages, including concurrence on some House measures, the filing of Senate bills, and several Senate resolutions and bills laid over for later consideration. The chamber then took up a long series of resolutions and bills. Among the resolutions adopted were measures on a Louisiana-United Kingdom Trade Commission, support for migratory waterfowl studies, hunting education in schools, SNAP delivery-fee studies, fraud prevention for seniors, subsurface data preservation, boating safety reporting, and visual acuity screening data. Some items were temporarily returned to the calendar, including a sales-tax uniform-base rule resolution and several Senate measures. The House also adopted a resolution creating an agricultural national security task force and another supporting a letter to the U.S. Fish and Wildlife Service. On legislation, the House passed bills on missing-person alerts for people with disabilities (“Brian’s Call”), first responder status for public works employees, planning commission procedures, historic preservation district rules, judges’ supplemental compensation, the Baker Economic Development District, New Orleans downtown development district tax authority, a local crime prevention district, clerks of court records, hotel occupancy taxes in Shreveport-Bossier, firefighter cancer screenings, Shreveport police civil service rules, local ethics entity funding, hemp/alcohol age restrictions, OMV digital signatures, LED recreation, TOPS Tech eligibility for veterans, anatomical gift recordkeeping, crypto kiosk fraud protections, firefighting foam definitions, and consumer data privacy. Several bills failed, including HB 705 on legislative contempt penalties and HB 75 on gaming promotional play. One bill on vehicle insurance reinstatement fees was amended and passed, and a bill on judicial compensation fund adjustments was amended and passed after questions about CPI indexing.

Transcript Highlights:

• that they don't owe any taxes.
• that they don't owe any taxes.
• The bill also adds the estimated tax impact of an increase in property taxes on a home valued at $300,000
• the tax consequence on a $100,000 home as well as the tax impact on a $300,000 home, which is more in
• the tax consequence on a $100,000 home as well as the tax impact on a $300,000 home, which is more in

Committee: Senate Senate Finance Committee of Reference

Summary: The committee approved the March 9, 2026 minutes and held HB 29 and HB 2939 at the sponsor’s request. It then took up HB 2016, which would bar late-filing penalties when a taxpayer’s income tax liability is zero; after an amendment narrowed the bill to income tax filers, the Department of Revenue was neutral on the bill but supported the amendment, and members debated whether removing the penalty would reduce incentives to file. The committee adopted the amendment and returned HB 2016 with a do-pass recommendation on a 4-3 vote. The committee also heard HB 2289, which updates the property-value examples used in bond/override election pamphlets and truth-in-taxation notices from older low values to a $300,000 home example. The sponsor and Arizona Tax Research Association said the update would better reflect current home values and improve voter understanding, while some members argued the bill could confuse voters or that the second example should be closer to the current median home price. The committee passed HB 2289 on a 4-3 vote. Several bills related to school district bonding and agricultural property classification were then considered. HB 4103 would prohibit school districts from calling bond elections if enrollment is below 50% of capacity; supporters said districts should use or monetize excess space before seeking more debt, while school administrators and several senators argued it would block needed maintenance and local voter choice. HB 2104 and HB 2105 would give agricultural property owners a temporary reprieve from repeated reclassification and inspections after winning an appeal, with farm groups supporting the measures and county assessors opposing them as limiting oversight; both bills passed 4-3 after amendments. The committee also passed HB 2256 on a 7-0 vote, which creates a process for salvage auction dealers to obtain abandoned titles when insurers do not complete salvage title transfers, and HB 2979 and HB 2996 unanimously, addressing credit union regulatory timelines and clarifying that certificates of insurance do not alter policy coverage. Finally, the committee heard HB 2174 on insurance modeling organizations and HB 2477 on AZ 529 plan updates, with HB 2174 discussed at length over regulatory treatment of models and HB 2477 described as a conformity bill expanding K-12 and credentialing uses and rollover options.

Transcript Highlights:

• great benefit for our communities: occupational taxes, profit taxes, payroll taxes, other things that
• great benefit for our communities: occupational taxes, profit taxes, payroll taxes, other things that
• great benefit for our communities: occupational taxes, profit taxes, payroll taxes, other things that
• great benefit for our communities: occupational taxes, profit taxes, payroll taxes, other things that
• great benefit for our communities: occupational taxes, profit taxes, payroll taxes, other things that

Summary: The Senate Standing Committee on Economic Development, Tourism, and Labor met and first took up Senate Bill 76, sponsored by Senator Greg Elkins. The bill would raise the construction retainage/escrow statute threshold from $500,000 to $2 million to reflect inflation, and would also make any contract term waiving the escrow protection void and unenforceable. Elkins said the measure would not apply to government contracts and was intended to protect contractors, subcontractors, and suppliers from delayed payment. The committee voted 9-0 to pass the bill with a favorable expression and send it to the floor. The committee then considered Senate Bill 59, sponsored by Senator Jimmy Higdon, with a committee substitute adopted first. Higdon said the substitute limited the bill to existing church property and the measure would allow religious institutions to build affordable housing on their property while still requiring local governing-body approval and compliance with building codes. Supporters framed it as a housing-supply tool and a way to use nonprofits and churches to help address Kentucky’s housing shortage, while questions focused on tax impacts, local control, and whether the bill could be used for single-family homes or other developments. A public witness from Henry County opposed the bill, arguing it could enable discriminatory housing and reduce local tax revenue. After discussion, the committee voted 9-0 to pass SB 59 with a favorable expression. Finally, the committee heard Senate Bill 313 from Senator Phillip Wheeler, which would designate June as Kentucky History Month. Wheeler and Kentucky Historical Society Executive Director Scott Alvi said the bill would help promote Kentucky history statewide, especially in connection with the U.S. 250th commemoration in 2026, and would build on existing June observances such as Statehood Day and Boone Day. The committee approved the bill with favorable expression, and the chair announced it would proceed to the floor.

Transcript Highlights:

• The state of Texas does not levy a property tax; the local taxing entities do.
• The problem with taxes and with spending is specifically related to ad valorem taxes and spending at
• Not only do they not impose any ad valorem taxes, they don't receive any ad valorem taxes.
• tax cut.
• Local taxing jurisdictions as well.

Bills: HB18 , SB 54 , SB 10 , HR76 , HR77 , HR78 , HR82 , HR83 , HR88 , HR89 , HR93 , HR94 , HR95 , HR98 , HR101 , HR102 , HR104 , HR105 , HR107 , HR108 , HR109 , HR110 , HR111 , HR112 , HR113 , HR123 , HR125 , HR79 , HR80 , HR81 , HR84 , HR85 , HR86 , HR87 , HR90 , HR91 , HR92 , HR96 , HR97 , HR100 , HR103 , HR106 , HR114 , HR115 , HR116 , HR117 , HR118 , HR119 , HR120 , HR121 , HR122 , HR124 , HB18 , SB54 , SB10 , HB8

Transcript Highlights:

• </c><00:01:06.040><c> that</c> the property tax refund for renters that the property tax refund for renters
• <00:01:13.680><c> for</c><00:01:13.840><c> the</c> taxes for the taxes for the landlord<00:01:15.560>
• They're seeing rising taxes, rising property taxes that are putting a financial strain on them.
• Rising taxes Rising property taxes<00:04:09.040><c> that</c><00:04:09.159><c> are</c><00:04:09.280><
• </c> credit after that anytime their tax credit after that anytime their tax increase<00:04:28.600><c

Transcript Highlights:

• And I've made a few visits since I started as tax director and our tax commissioner.
• What I'm saying is the tax, and the tax burden is on anybody who has land that pays taxes.
• We'll pay the taxes.
• , which is a city sales tax or a county sales tax, or both.
• , which is a city sales tax or a county sales tax, or both.

Summary: The meeting focused heavily on behavioral health and substance use treatment, especially the IMD exclusion and whether North Dakota should pursue a Section 1115 waiver to allow Medicaid reimbursement for services in institutions for mental diseases for adults ages 21 to 64. Turtle Mountain representatives described major local needs, including limited access to care, high syphilis rates, and the importance of timely public health data. They also discussed the tribe’s recovery center, which opened the prior year, now operating five levels of care with 16 beds, and the desire to expand capacity, possibly through an IMD waiver or related policy changes. Committee members also raised related issues such as rural health transformation funding, telehealth, workforce retention, and the need for better coordination between tribal and state public health systems. A central issue was Turtle Mountain Public Health’s long-running effort to secure a data use agreement with the state so it can receive surveillance data and respond directly to infectious disease cases among tribal members. Speakers said the tribe had a successful COVID-era agreement that allowed faster contact tracing and case management, but that agreement ended with the pandemic. They argued that current delays in sharing data, especially for sexually transmitted infections, leave the tribe unable to respond quickly, while the state and county epidemiology workload is too distant and stretched to be effective. Committee members expressed support and said they would look into the issue, noting that other tribes have secured similar agreements. The committee also heard a detailed presentation from the National Health Law Program on the IMD exclusion. The presenter explained that federal Medicaid law generally bars payment for care in facilities with more than 16 beds, but that states can use other tools such as state plan amendments, managed care arrangements, telehealth, and community-based services. He said IMD waivers are administratively complex, time-limited, and have shown mixed results in other states, with some gains in residential treatment access but limited evidence of improved overdose outcomes or stronger community-based care. He urged the committee to consider broader continuum-of-care solutions and cautioned that waivers alone are not a cure-all. No final vote was taken on the bill draft during the portion shown, but the committee discussed the proposal to appropriate $49,000 and one FTE to HHS to pursue an IMD waiver and report back in the next interim. Members also debated the policy rationale for the 16-bed limit, the role of the state versus tribal sovereignty, and whether the bill should move through the Health Care or Human Services committee in the future.

Transcript Highlights:

• This bill involves updates to the Oklahoma tax code related to donations made via tax returns.
• There are no new taxes, and it's purely voluntary.
• My understanding is it's a tax. Credit.
• They have become accustomed To that tax base.
• You know, takes that off the tax roll.

Bills: HB3044 , HB3465 , HB3625 , HB3704 , HB3759 , HB3920 , HB3972 , HB4191 , HB4311 , HB4426

Committee: Senate Revenue and Taxation

Transcript Highlights:

• , but local tax would apply.
• but local tax would apply. still be exempt from state sales taxes, but local tax would apply.
• distributions from the sales tax.
• tax.
• The striker allows a PUT tax that is not voter approved. This amendment just removes the PUT tax.

Summary: The Ways and Means Committee met in executive session on March 2, 2026, and worked through two large groups of bills, hearing staff briefings, caucusing, and then voting each measure out to the Rules Committee. In the first group, the committee advanced bills on state accounts (HB 2675, with an amendment creating an adult day service facilities account), immigrant worker protections (2SHB 2105, after adopting a striker and Amendment 8 while rejecting amendments that would have changed enforcement and private rights of action), voting rights compliance (E3SHB 1710, with all proposed amendments rejected), AI content provenance and notices (E2SHB 1170, with Amendment 19 adopted to exempt state/local/tribal governments and certain video-game and technical uses), public official protections (2SHB 233, with a technical amendment adopted), WOTEC civil service coverage (HB 2249), JLARC work plan changes (HB 2120), LEOFF Plan 1 termination/restatement (E2SHB 2034, with several amendments adopted including creation of a pension surplus holding account and study directives, while proposals to redirect funds to the Climate Commitment Act or provide a lump-sum payment were rejected or withdrawn), supplemental retirement bargaining (HB 1069, with a striker adopted), port employee retirement exclusions (EHB 2179, with a striker adopted), local government revenue flexibility (ESHB 2442, with Amendment 72 adopted to remove a county public utility tax and other amendments rejected), wildfire mitigation funding (SHB 2089), and timberland REET changes (HB 1983). The committee also noted that it would not take action on some items in the packet, including SHB 1833. In the second group, the committee advanced bills on local housing tax remittance programs (ESHB 1717), renewable energy tax incentives and grants (E3SHB 1960, with a striking amendment adopted that adjusted rates, timing, and related provisions), nonprofit fundraising hall property tax relief (HB 2431), food bank sales tax relief (SB 6006), local tax increment financing (E2SHB 2451), temporary staffing services for nonprofit behavioral health entities (SB 6297), school and child care-related sales tax exemptions (SSB 6351, with a substitute adopted and the competing amendment made out of order), behavioral health work group extension and leadership council creation (2SHB 2429), Working Connections Child Care changes (SB 6353, with Amendment 43 adopted), language access guidelines for state agencies (SHB 2475), unpaid wage recovery (2SHB 2479), firearms background check fee authority (HB 2521, briefed but not acted on in the portion provided), public employee information sharing (HB 2091, briefed but not acted on in the portion provided), and Office of Independent Investigations jurisdiction changes (ESHB 2508, briefed but not acted on in the portion provided). Throughout the meeting, members and staff discussed fiscal notes, implementation costs, and whether amendments would increase or reduce state impacts, with several amendments aimed at narrowing scope, delaying implementation, or shifting enforcement and funding responsibilities.

Transcript Highlights:

• Special fuel tax or diesel fuel tax 25. Weight distance taxes is a big there.
• The last time this tax was changed was actually in 1996. The tax was lowered from $0.20 to $0.17.
• We did raise the tax by 3 cents.
• , there, motor vehicle excise tax.
• ’s the fuel tax.

Transcript Highlights:

• </c><00:22:23.919><c> was</c> taxed and all of a sudden the tax was taxed and all of a sudden the tax
• </c> looking at business taxes. Okay. looking at business taxes.
• on specifically that we talked about: the business taxes, the rooms and meals tax, and the rent tax.
• to go individually by rooms and meals tax and rent tax.
• Um, which tax? The vape tax.

Summary: The Committee of Conference on HB 1 and HB 2 was called to order, and Legislative Budget Assistant Michael Kaine reviewed the working documents before the committee. He explained the compare report, the detailed change sheet, the HB 1 index, the HB 2 side-by-side, the surplus statement, and a revenue handout, noting that the committee would vote up or down on all detail-change items and that unresolved items on hold would be removed from the final bills. He also identified staff available to answer technical questions and noted that the committee would track the dollar impact of decisions as it proceeded. Members then turned to the revenue outlook, with discussion focused on the gap between the House and Senate budget positions. House members said their budget guidance was based on revenue estimates that were significantly below the governor’s proposal, and they discussed whether additional revenue could close part of the gap. Department of Revenue Administration Commissioner Lindsey Stepp presented updated revenue estimates based on May data, explaining the methodology and the ranges for fiscal years 2025, 2026, and 2027. She said business taxes were the largest source of uncertainty, with estimates reflecting current economic conditions, recent revenue performance, and a range of possible growth rates. Committee members questioned the assumptions behind the business-tax ranges, including why the low and high scenarios were set at 2% and 8% growth. Stepp said the range was based on historical performance and current economic factors such as inflation, tariffs, and business behavior, and she noted that June is a major estimate-payment month for business taxes. Members also discussed recent revenue trends, including the effect of tariffs and the possibility of federal tax policy changes affecting repatriated profits. The commissioner and House members also discussed other revenue sources, including rooms and meals and real estate transfer taxes, with the House side arguing that lower mortgage rates and home prices could increase real estate transfer revenue. No votes were taken in the portion provided, but the committee discussed possible upward adjustments to House revenue assumptions, including increases of roughly $70 million in total based on the updated outlook and additional insurance-related revenue.

Transcript Highlights:

• </c><00:02:50.120><c> Bas</c> development uh is added to the tax Bas development uh is added to the tax
• ><c> equant</c> immediately but when tax equant immediately but when tax equant financing<00:02:53.000
• </c><00:03:12.360><c> that</c> district is active all the taxes that district is active all the taxes
• </c><00:03:25.680><c> base</c> might think well capturing tax base might think well capturing tax base
• </c> occur so when a an authority uses tax occur so when a an authority uses tax inment<00:03:49.959>

Committee: Senate Taxes