Video & Transcript Research : 'fiscal note'

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ND

North Dakota 2026 1st Special Session

Tax Reform and Relief Advisory Committee Jun 23rd, 2026 at 10:00 am

Tax Reform and Relief Advisory Committee

Transcript Highlights:
  • But I think that's worth noting.
  • But just, I think that's worth noting.
  • We had actually, as a part of the fiscal note attached to the bill that passed, we had actually, our
  • Then they return their list to us, of course, noting any discrepancies.
  • So, From an audience standpoint, our fiscal division performs that.
Keywords: 908, all
MN

Minnesota 2025-2026 Regular Session

House Taxes Committee 3/17/26

Taxes

Transcript Highlights:
  • So, uh, this wasn't something that's going to affect, uh, there is no fiscal note because it's not going
  • > not there is no fiscal note because it's not there is no fiscal note because it's not going<00:
  • the revenue note. the revenue note.
  • note?
  • <00:48:36.160> note?
FL

Florida 2026 Regular Session

Appropriations Committee on Transportation, Tourism, and Economic Development Jan 21st, 2026

Appropriations Committee on Transportation, Tourism, and Economic Development

Transcript Highlights:
  • And I will note that if you're in a small county under 75,000, We'll note that if you're in a small county
  • So maybe, if not today, then at Fiscal Policy, since that will be the fiscal part of it, we'd love to
  • So I just think that's an important thing to note.
  • So maybe if not today, but fiscal policy, since that will be the fiscal part of it, we'd love to get
  • I just want to note that if we're tying the I just want to note that if we're tying the amount of time
Summary: The committee met with a quorum and considered ten bills, beginning with SB 594 on local housing assistance plans. Senator Burton explained that the bill would make residents of mobile home parks and manufactured housing communities eligible for SHIP rental assistance and, in some cases, repair or rehabilitation funds, recognizing that many own their homes but rent the lot. Supporters from AARP and the Federation of Manufactured Homeowners said the bill would help seniors and low-income residents remain housed. The bill was reported favorably by a roll call vote. Members then approved two Department of Highway Safety and Motor Vehicles measures: SB 488, the agency package updating Florida’s motor fuel tax compliance with IFTA, allowing online filing and private license plate agencies to act as agents, raising the crash-damage reporting threshold, expanding email communications, and updating tank vehicle compliance; and SB 490, a related public records exemption for email addresses collected for renewal notices. Both were reported favorably without opposition. The committee also passed SB 246, creating a specialty license plate for the UFC Foundation, despite concerns raised that the foundation is based out of state and that the plate was politically motivated; the bill was approved on a split vote. The committee gave favorable reports to SB 216 on reemployment assistance eligibility, which would tighten job-search requirements, require more frequent eligibility verification, and add reporting on fraudulent claims. The bill drew substantial opposition from labor and policy advocates who argued it would add barriers for unemployed workers, especially in rural and skilled-trades jobs, and that the state’s unemployment system remains difficult to navigate. Supporters said the bill was aimed at fraud prevention and ensuring claimants remain eligible. SB 356 on utility terrain vehicles generated extensive debate over safety, local control, and whether UTVs should be allowed on certain roads; supporters emphasized rural utility and law enforcement benefits, while opponents cited manufacturer warnings and crash risks. The sponsor ultimately temporarily postponed the bill. The committee also reported favorably SB 528 on manufacturing, which expands the Department of Commerce’s manufacturing responsibilities, codifies the chief manufacturing officer position, and creates workforce development grant support; SB 584 on commercial driving schools, which authorizes DHSMV agreements with county tax collectors to help enforce school regulation; and SB 388, which raises the annual use fee for the Florida Wildflower specialty plate from $15 to $25 to support the Florida Wildflower Foundation. The final bill, SB 470 on the Fraternal Order of Police specialty plate, was introduced as a measure to broaden eligibility for the existing plate and stabilize funding for law enforcement memorial efforts, but no final action on that bill was reached in the portion of the transcript provided.
TX

Texas 89th 2nd C.S.

Human Services Mar 11th, 2025

Human Services

Transcript Highlights:
  • note and we worked with the agency on it, and so the committee sub helps address the fiscal note, but
  • What I don't understand is the fiscal note that is 811. $1000 in the first uh biennium.
  • If we're doing it in lieu of other services, why is there such a huge fiscal note?
  • There's not a cost to the client services that is included in the fiscal note.
  • Yeah, my question, well, I have several, but one of them was also on the fiscal note.
NM

New Mexico 2025 Regular Session

IC - Tobacco Settlement Revenue Oversight Nov 14th, 2025

Tobacco Settlement Revenue Oversight Committee

Transcript Highlights:
  • So the really hard fiscal years.
  • You'll note that there have been some changes.
  • So it's the operating budgets right now—it's our current fiscal year, state fiscal year.
  • By the end of fiscal year 2024, they had to spend $250,000 to develop a coalition.
  • In fiscal year 2026, they reported that the website was launched in July.
NH

New Hampshire 2025 Regular Session

House Finance Division I (02/27/2025)

Transcript Highlights:
  • They often hit relative to the federal fiscal year, and it doesn't always align well with our state fiscal
  • <00:16:54.040> year relative to the federal um fiscal year relative to the federal um fiscal
  • continue okay so uh is the RSA noted continue okay so uh is the RSA noted here<00:46:11.319>
  • My point is, the fiscal note on House Bill 611 was intriguing because it said due to previous legislative
  • At the time this fiscal year started, the fund was about at zero, so we basically started the fiscal
Keywords: 928, house, all
Summary: The committee held a work session on the Department of Business and Economic Affairs budget, with testimony from Chase Hegman and Kathy Frederickson. Early discussion focused on staffing and vacancies, including a senior planner position tied to FEMA requirements, a program assistant funded by federal ORID dollars, a program specialist being considered for reclassification, two Housing Champions positions to be funded in the next biennium, and temporary welcome center positions. Members also reviewed the commissioner’s office, indirect cost recoveries tied to federal program administration, and the structure and staffing of rest areas and welcome centers, including the Turnpike-funded locations and seasonal staffing patterns. Members then moved through economic development and federal grant-related accounts. Hegman explained that a large share of the agency’s funding is federal, with some programs requiring state match, including the Apex Accelerator, which supports government contracting assistance for businesses. He described Apex as a small team that helps businesses with DOD and other contracting opportunities through webinars, matchmaking, and one-on-one support. The Office of Workforce Opportunity was described as largely federally funded through Commerce-related workforce programs and subrecipients, with some general fund support for agency-wide needs. The Northern Borders Regional Commission dues and capacity grant were also discussed, with officials explaining the state’s required contribution and the federal funds used to administer the program. A major point of discussion was the proposed reduction to the Small Business Development Center, which officials said provides one-on-one technical assistance to new and small businesses and has a strong return on investment. Members questioned the cut, the federal funding sources, and whether there was a waiting list for services; officials said they would provide more detail on matching requirements and funding. The committee also reviewed travel and tourism accounts, including the joint promotional grant program and tourism advertising funds, both of which are proposed to increase. Officials said the tourism marketing formula is based on a percentage of meals and rooms tax revenue and argued that the spending generates significant visitor spending and tax revenue, citing an outside ROI study and examples of advertising in test markets. No votes were taken during the work session.
MN

Minnesota 2025 1st Special Session

House Education Policy Committee 3/25/25

Education Policy

Transcript Highlights:
  • As of right now, we haven't been told, and again, if you would like me to submit it to a fiscal note,
  • I think it would actually add a fiscal note. Um and happy to have future conversations about it.
  • I think it would actually add a fiscal note. Um and happy to have future conversations about it.
  • I think it would actually add a fiscal<00:57:18.799> note.
  • Um and happy to have future fiscal note.
Keywords: 1183, house
WV
Transcript Highlights:
  • ecosystems, they've developed a range of programs and options to address these specific challenges in a fiscally
  • They include ...address these specific challenges in a fiscally responsible manner.
  • Counsel, do you know if the comm sub has been looked at on the fiscal note as well?
  • Would that change the fiscal note on the bill?
  • So the fiscal note is the same. Right. Thank you. Are there further questions? Okay.
Keywords: 994, senate, all
Summary: The committee first heard a presentation from Tom Franta, founding executive director of the Mountaineer Charter School Alliance. He described the new nonprofit’s goals of supporting West Virginia charter schools through advocacy, legal and compliance assistance, shared operational services, professional development, communications, and network-building. Franta emphasized that charter schools face major facility and financing challenges, and he urged use of existing public buildings, low-interest revolving loans, credit enhancement tools through the West Virginia Economic Development Authority, and federal matching funds to help level the playing field for charter schools, including both brick-and-mortar and virtual schools. Members asked about what he meant by “level the playing field,” and Franta said charter schools receive 99% of basic state aid but lack access to the full range of public education funding and dedicated facilities support, forcing them to divert dollars toward buildings rather than classrooms. He said the goal is to ensure parents choosing a public charter option can expect appropriate funding. After the presentation, the chair announced Senate Bill 171 was removed from the day’s agenda. The committee then considered Senate Bill 166, which creates an exception to West Virginia Invest grant eligibility so individuals who already have a post-secondary degree may still receive support if pursuing an associate degree or certificate in emergency medical services. The committee reported the bill to the full Senate with a recommendation that it do pass, and under the original double committee reference, first be referred to the Finance Committee. Next, the committee took up Senate Bill 428, with a committee substitute that splits the bus operator title into three pay grades based on years of service and raises the cafeteria manager title from pay grade D to E. Senators asked whether duties would change; counsel and the sponsor said the bill is intended as a retention incentive, with no change in responsibilities, and that the fiscal note would remain the same. The committee adopted the committee substitute and then reported the bill to the full Senate with a do-pass recommendation, again first referring it to the Finance Committee. The meeting then adjourned.
NH

New Hampshire 2026 Regular Session

Senate Education (04/14/2026)

Education

Transcript Highlights:
  • So, I think that's probably best. pretty big fiscal note with it.
  • So, so pretty big fiscal note with it.
  • >> Let's go to the fiscal note. >> So we'll pass the deal pass. >> We'll pass the policy.
  • >> Let's go to the uh the fiscal pass the fiscal<01:34:47.920> note.
  • fiscal note. fiscal note.
Keywords: 1191, senate, all
TX

Texas 89th Regular

Pensions, Investments & Financial Services Mar 3rd, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • Just as a note, all state employees contribute both to the pension plan and to Social Security.
  • According to the fiscal note for Senate Bill 2 by TRS, it indicates that a 1% annual decline in active
  • Madam Vice Chair, we've gotten a lot of attention since we produced that fiscal. note for Senate Bill
  • First and foremost, I will point out that that 1% decline that was sort of theorized by the fiscal note
  • Okay, thanks. the fiscal note done by LBB, which is called the actuarial impact statement. on SB2 for
Keywords: 1184, house, all
LA

Louisiana 2026 Regular Session

Judiciary B May 5th, 2026

Judiciary B

Transcript Highlights:
  • So there's no fiscal note on this. I mean, is there, I guess, an unfunded mandate on the police?
  • We don't have a fiscal note, and I think this is a solution that's looking for a problem.
  • And again, I think we ought to look at the fiscal notes on all of these issues.
  • Chairman, maybe I just think we need a fiscal note on this particular bill.
  • Yeah, we looked at it; there's no fiscal note.
Keywords: 974, senate, all
TX

Texas 89th 2nd C.S.

Ways & Means Apr 14th, 2025

Ways & Means

Transcript Highlights:
  • I am, I must admit, a little surprised at this fiscal note. It seems very out of whack.
  • Well, I would be surprised if this fiscal note is accurate. I think it might be... ...many for me.
  • I am, I must admit, a little surprised at this fiscal note. It seems very out of whack.
  • Well, I would be surprised if this fiscal note is accurate. I think it might be...
  • Well, I would be surprised if this fiscal note is accurate.
Summary: The committee heard a long series of bills, most of them expanding or adjusting hotel occupancy tax or qualified hotel project authority for specific local governments. Measures discussed included HB 2404 for Childress County; HB 3066 for Allen’s Kalahari resort project; HB 4682 for Plano; HB 4683 for Anna; HB 3076 creating a project finance zone in Frisco; HB 3567 for Wichita County; HB 3715 for McAllen; HB 1039 for Alpine; HB 3182 for Burleson; HB 4926 for Grimes County; HB 4222 for Victoria County; HB 3377 for Katy; HB 4659 for Addison; HB 3241 for Georgetown; HB 4098 for Taylor; HB 3178 for Kerr County; HB 3179 for Mason County; HB 2289 for New Braunfels; HB 4412 for Kermit; HB 5165 for Monahans; HB 3500 for Bastrop; and HB 3169 for Carrollton. In each case, authors and local officials described tourism, convention, hotel, airport, or mixed-use development needs and argued the bills would help attract visitors, investment, and jobs. One non-hotel-tax bill, HB 4226, would exempt Texas food banks from sales tax on vehicle purchases and rentals, with testimony emphasizing the scale of food bank operations and the savings’ impact on meal delivery and disaster response. Testimony was generally supportive from city officials, economic development representatives, and industry groups such as the Texas Hotel and Lodging Association. Several witnesses described major private projects, including Kalahari in Allen, a proposed hotel and conference center in Addison, a mixed-use project in Georgetown, and a large development tied to Samsung growth in Taylor. For HB 4226, food bank representatives said the bill would help them purchase refrigerated trucks and other delivery vehicles, while an opponent questioned the fiscal note and the scope of the exemption. HB 4926 drew opposition from Camp Allen, whose representative argued a new county hotel tax would raise costs for guests and could hurt the retreat center’s operations. HB 3178 also drew an objection from a Kerr County resident who argued the tax would grow county government and pointed to event center losses, though the author said the revenue would support tourism-related county uses. The committee took no final votes on the bills in this transcript. After each bill was laid out and testimony concluded, the chair repeatedly asked whether there was objection to leaving the bill pending; in each instance, no objection was heard, and the bills were left pending. Several committee substitutes were offered and then withdrawn or noted as conforming drafts, but no bill was reported out or otherwise acted on beyond being left pending.
CO

Colorado 2026 Regular Session

Colorado Senate 2026 Legislative Day 094 Apr 18th, 2026

Colorado Senate Floor Meeting

Transcript Highlights:
  • Um, we made some amendments in there, partly to reduce the fiscal note and then also to make some of
  • Uh, it calls it out in the fiscal note.
  • Uh, it calls it out in the fiscal note.
  • understand is this bill has no fiscal understand is this bill has no fiscal note<02:09:31.040>
  • <02:09:55.599> note<02:09:56.079> for triggered a a fiscal note for triggered a a fiscal
Keywords: 981, all
Summary: The Senate convened with a quorum, approved the previous day’s journal, and received a long list of bill status reports and enrollments. It also introduced Senate Bill 168, concerning reporting of money handled by legislative caucuses, and Senate Bill 169, a non-substantive revision bill for the Colorado Revised Statutes. The chamber then agreed to proceed out of order for moments of personal privilege and recognized the Denver and Colorado Springs chapters of The Links, Incorporated for Lynx Day at the Capitol. The Senate next took up a special-order consent calendar containing House Bill 1110, Senate Bill 78, and Senate Bill 151. All three committee reports and the bills themselves were adopted without objection, and the Committee of the Whole report was later adopted by a 35-0 vote. As reported, Senate Bill 78 was amended, Senate Bill 151 passed second reading and was ordered engrossed, and House Bill 1110 was amended, passed second reading, and ordered revised for third reading and final passage. The chamber then moved to special orders on Senate Bill 6 and Senate Bill 15, and the transcript focuses mainly on Senate Bill 6, which would require health insurers to offer at least one non-opioid pain medication option. Supporters argued the bill would expand access to safer pain-management alternatives, reduce opioid addiction, and encourage innovation; several members shared personal or professional experiences with opioid harms. Opponents argued the bill would mandate newer, more expensive drugs when less costly alternatives already exist and could raise health care costs. The debate continued in the excerpt, but no final vote on Senate Bill 6 is shown here.
NH
Transcript Highlights:
  • Uh, we presented the report to the fiscal committee on February 21st and we also presented the report
  • The long-term outlook for Doorways is to get the report to the fiscal committee by the end of this year
  • Thank you. ...we can have a draft report sometime this fall and a presentation to the fiscal committee
  • Yes, Representative, what we've done at fiscal is sometimes on those audits we said we want monthly or
  • Um, I just wanted you issues uh noted.
Keywords: 928, house, all
Summary: The committee organized itself by electing Representative Griffin as chair and a senator as vice chair, then approved the prior meeting minutes. Director Young then gave status updates on several ongoing performance audits. The New Hampshire Commission for Human Rights audit was reported complete, with presentations already made to the fiscal committee and House Judiciary. The special education oversight audit is still in progress, with 17 observations already sent to the department, responses received on 14, partial concurrence on 12, and a full draft report expected in late summer or early fall. The education freedom accounts audit is also underway, with fieldwork focused on eligibility controls and expenses; staffing shortages at the department have slowed the work, and a draft report is hoped for in the fall. The Doorway program audit is in the planning phase, with a report targeted for the end of the year. Members then discussed whether the committee should do more follow-up on completed audits. Several members said audits often identify issues that remain unresolved for years, and suggested a more active review process, similar to the Health and Human Services Oversight Committee, where agencies would return to report on what audit findings have been fixed and what remains outstanding. Staff noted that any such follow-up would take time away from new audit work, but said they were willing to consider the committee’s direction. Members also discussed using Transparency New Hampshire updates and agency self-reporting to help track progress, and there was general agreement to move toward a system of periodic follow-up on recent audits. The committee also reviewed suspended and potential audit topics. Two Department of Health and Human Services audits, involving the Bureau of Elderly and Adult Services and out-of-date placements, remain suspended because of ongoing litigation. Two other DHS topics, contract management and the Bureau of Developmental Services, remain on the potential audit list. A member raised a possible Fish and Game topic based on constituent concerns, but agreed to wait after speaking with the new director. The committee concluded by agreeing that the audit division should compile a list of audits completed in the last 10 years, with members to identify which ones they want to revisit first.
KY
Transcript Highlights:
  • Uh but at fiscal year here in Kentucky.
  • just looking again uh at the next fiscal just looking again uh at the next fiscal year<00:12:26.399
  • have enough we're not through the fiscal have enough we're not through the fiscal year<00:12:46.480
  • :59.760> counties<00:34:00.159> were note there that 116 counties were note there that
  • I looked me grab my little sticky note.
Keywords: 958, all
Summary: The Budget Review Subcommittee on Transportation met with a quorum, approved the June 3, 2026 minutes, and then heard a presentation from Mike Proctor of Evolve Kentucky on electric vehicles and charging infrastructure. Proctor described Evolve Kentucky as a nonprofit formed in 2016 to promote EV adoption and charger deployment, said the group has helped place more than 135 chargers at 65 locations, and reported that Kentucky EV registrations have grown rapidly but still represent about 1% of the state’s roughly 3 million vehicles. He also outlined the group’s view that EV drivers and charger operators already contribute to state revenue through annual vehicle fees, charger taxes, utility taxes, and related business taxes, and cited figures showing rising revenue collections as EV adoption increases. A major theme of the presentation was that EV owners are paying their “fair share” rather than being overcharged. Proctor said the current $126 annual EV fee is roughly comparable to the fuel tax a typical gasoline vehicle would pay, and noted that public charging can add additional tax burdens for drivers who cannot charge at home, such as those living in apartments or condos. He also argued that EVs provide broader benefits, including lower noise and air pollution, grid-stabilizing nighttime charging, tourism spending at destination chargers, and reduced road wear for passenger EVs compared with much heavier vehicles. Members questioned Proctor about whether EV owners are paying more than their fair share, how the fee compares with gasoline taxes, and whether apartment and condo residents are disproportionately affected because they rely on public chargers. Proctor responded that the fee was intended to bring EV owners into parity with gas vehicles, not to overcharge them, and said some public chargers are free while others are used by drivers who cannot charge at home. No additional votes or formal actions were taken beyond the minutes approval.
NM

New Mexico 2025 Regular Session

IC - Legislative Finance Jun 25th, 2025

Transcript Highlights:
  • So on your CYFD workforce page here, I note that there's currently 403 positions posted.
  • expand again next fiscal year using growth funding.
  • I will note that we have pointed this out a few times over the last year.
  • Next fiscal year 26 it continues on through part of the year, yes.
  • We've taken out the ones that are noted here that are dually enrolled.
MN

Minnesota 2025-2026 Regular Session

Committee on Commerce and Consumer Protection - 03/27/25

Commerce and Consumer Protection

Transcript Highlights:
  • /c><00:08:31.599> bill don't have a fiscal note yet in the bill don't have a fiscal note yet in
  • I'm not sure they had a fiscal note on that part of the bill last year.
  • I'm not sure they had a fiscal note on that part of the bill last year.
  • I'm not sure they had a fiscal note on that part of the bill last year.
  • I'm not sure they had a fiscal note on that part of the bill last year.
Keywords: 1187, senate, all
KY

Kentucky 2025 Regular Session

Consensus Forecasting Group (9-16-25)

Transcript Highlights:
  • 1.8% for fiscal 26. 1.8% for fiscal 26.
  • fiscal 27 second quarter. fiscal 27 second quarter.
  • I revenues from fiscal 26 to fiscal 25.
  • Um fiscal 27, the the the gap fiscal 26.
  • fiscal 27 and 78.5 million for fiscal fiscal 27 and 78.5 million for fiscal 28.<03:39:12.640>
Keywords: 958, all
Summary: The meeting focused on preliminary fiscal 2026 revenue estimates and the governor’s office request for an official revision to fiscal 2026, with members reminded that any estimate adopted now would not bind the December official estimates. Staff from S&P Global walked through three forecast scenarios—control, optimistic, and pessimistic—based on recent federal tax changes, tariffs, and other policy developments, emphasizing that the outlook remains highly uncertain. Under the control scenario, the presentation projected below-trend real GDP growth of 1.8% in fiscal 2026, slowing to 1.5% by fiscal 2028, with unemployment peaking around 4.5% and the Federal Reserve cutting rates three times to a long-run range of about 2.75% to 3%. The optimistic scenario assumed lower effective tariffs, stronger growth, and better labor and housing outcomes, while the pessimistic scenario assumed a broader trade war, higher effective tariffs, faster deportations, weaker employment and consumer spending, and unemployment rising to about 6.3%. Speakers also noted that the forecast was prepared before later BLS revisions and that recent data on inventories and AI-related investment made the recent quarters look unusually volatile. Members discussed how the current fiscal 2026 outlook compared with earlier assumptions and noted that the eventual revenue revision may be smaller than the spread between the optimistic and pessimistic economic scenarios. The governor’s office and committee members also reviewed sector-specific impacts, including manufacturing, housing, light vehicle production, exports, and consumer sentiment, with particular concern about Kentucky’s auto and housing-related industries. No votes or formal actions were taken in the portion provided.
NH

New Hampshire 2025 Regular Session

House Ways and Means (01/13/2025)

Transcript Highlights:
  • council is going to come into the fiscal council is going to come into the fiscal committee<00:19
  • opportunity to come to the fiscal opportunity to come to the fiscal committee<00:26:25.399> to
  • <00:30:30.000> year fiscal year fiscal year 2024<00:30:32.720> we<00:30:32.880> have
  • volatile um so you you see in fiscal volatile um so you you see in fiscal year<01:42:05.119>
  • of a summary of where we are in fiscal of a summary of where we are in fiscal year<01:57:09.880>
Keywords: 928, house, all
Summary: The committee meeting began with an overview from the Legislative Budget Assistant Office on how Ways and Means will work with agencies and leadership during the budget and revenue-estimating process. Staff explained that the governor’s budget is still being developed, agencies are cautious about going on record early, and the committee will use worksheets and updated fiscal reports to track estimates. The presentation emphasized that the fiscal year 2025 budget status is a point-in-time snapshot and remains fluid because the annual comprehensive financial report has been delayed, which could change the beginning balances for both the general fund and education trust fund. The budget update highlighted that the general fund is currently stronger than originally assumed, while the education trust fund is weaker. The speaker said the general fund began FY25 with a much larger balance than expected, while the education trust fund came in lower due to higher-than-budgeted adequacy spending and weaker business tax performance. Revenue trends showed the general fund slightly ahead year to date, but the education trust fund down significantly. The committee also discussed unbudgeted appropriations, including attorney general litigation, legal settlements, abandoned property claims, adequacy true-ups, and education freedom accounts, as well as the role of lapses and off-budget items in the final balance. Members asked about the delayed liquor commission audit and whether it could affect revenue forecasts. Staff said the delay was mainly caused by the commission’s switch in point-of-sale systems and staffing losses, but did not expect major ongoing reporting issues. They also noted that liquor fund variances are more likely tied to Medicaid expansion costs than to commission operations. The governor’s office was said to be working on possible budget reductions, but no January request to the fiscal committee was expected. Commissioner Lindsay Stepp of the Department of Revenue Administration then presented an overview of state revenue sources, focusing first on the meals and rentals tax. She explained that DRA administers 14 taxes that account for most state revenue, and that meals and rentals tax growth has slowed after strong post-pandemic gains. She described factors affecting the tax, including employment, inflation, fuel and food prices, wages, and weather, and noted that online platforms like Airbnb have improved compliance by collecting and remitting tax on behalf of hosts. Members asked about short-term rental compliance and how DRA identifies unlicensed rentals; Stepp said referrals, anonymous tips, and platform data help enforcement.
NH

New Hampshire 2025 Regular Session

House Finance Division II (03/25/2025)

Transcript Highlights:
  • Uh, fiscal year 2025, we projected $29 million in historic horse racing.
  • Yes, on page seven, line two, so $180 million, $172.5 in fiscal 26 and 27.
  • so 10 million in 25 12.1 each in fiscal so 10 million in 25 12.1 each in fiscal 26<00:34:35.000>
  • On that note, Mr. Chair, any further... Mr.
  • officials to uphold their duty to fiscal officials to uphold their duty to fiscal responsibility
Keywords: 928, house, all
Summary: The committee first heard Representative Sweeney present and defend the budget amendment legalizing video lottery terminals (VLTs) and setting a 30% tax rate, with 65% of the tax going to the state and 35% to charities. He argued the lower rate was needed to encourage operators of historic horse racing (HHR) machines to convert to VLTs, saying the higher 45% rate would discourage adoption. He walked through revenue projections for fiscal years 2026 and 2027, estimating significant increases in state and charity revenue as machines transition over time, and said the amendment was designed to expand charitable gaming revenue overall. Several members questioned the assumptions behind his projections and the basis for his analysis, including why his independent research differed from the governor’s and Lottery Commission’s estimates. Sweeney said his figures were based on research into other states and conversations over many years, and he maintained that a 45% tax would likely result in no VLT adoption. Members also debated whether the transition costs for operators would be quickly recouped and whether the state’s share should be larger. One member emphasized that the committee was effectively choosing between a lower operator share and a higher state share, while Sweeney argued the 30% structure would produce revenue for everyone. The committee then moved to other revenue items on the tracking sheet. It voted 7-0 to accept the Lottery Commission’s revised base revenue estimates. Members also discussed an amendment to repeal the local option requirement for Kino games, which would expand Kino availability and was estimated to generate additional lottery profit in fiscal years 2026 and 2027. That amendment drew opposition from members who said local control was an important part of the original Kino policy and that removing it would override municipal decisions. The committee also noted that the VLT/HHR revenue item had already been adopted and was being revisited only to confirm the associated revenue estimates.