Several Chamber-backed tax bills have advanced through the legislative process in recent weeks. Following is a rundown is key tax bills on the move:
Dental Prosthetics (SBs 566-7 and HBs 5164, 5173): Originally only a two-bill package, legislation to “re-exempt” dental prosthetics has expanded to a four-bill package after requests from the Department of Treasury. Two bills have been passed by the House and await committee action in the Senate. The other two bills are on the House floor where their next stop will be the Governor’s desk.
Treasury Settlement Authority (HB 4976): Legislation expanding Treasury’s ability to settle tax disputes is on its last stop before heading to the Governor's desk. Passed unanimously by the Senate Finance Committee last week, HB 4976 is on the Senate floor awaiting final legislative approval.
Creating “Mailbox Rule” for ESA Filings (SBs 570-3): Legislation that would loosen up the hard Feb. 20th deadline on certain property tax filings had a hearing in the House Tax Policy Committee last week. The bills would move towards a “postmark” date deadline as well as allow those who miss the deadline to go to the March Board of Review. A vote is anticipated after the Thanksgiving break.
Changes to the Financial Institution Tax Base Calculation (SBs 361-2): Legislation changing the way net capital is calculated for taxpayers on the Financial Institutions Tax passed the Senate committee unanimously last week, despite opposition from Treasury.
Personal Liability for Unpaid Property Taxes (HB 4285): Legislation limiting business owners' personal liability for unpaid property taxes received final legislative approval last week. The Governor is expected to sign the bill.