Requires prefiling by January 15 of any legislative instrument which produces a net decrease in taxes, fees, charges or other revenues received by the state of $10 million or more annually in any one of the 5 fiscal years; a report by the proponents on the instrument's economic effects; and a review of such report by the legislative fiscal office.
Impact
The proposed changes will directly impact the legislative process related to revenue-related bills. By requiring proponents of such legislation to prepare a comprehensive report on the economic effects of their proposals, SR110 seeks to create greater transparency and accountability in the law-making process. This includes assessments of revenue loss, potential implications for employment and household earnings, and comparisons to similar measures taken in other jurisdictions. Such directives reflect a commitment to careful legislative scrutiny, particularly for bills that could have significant financial ramifications for state funds.
Summary
Senate Resolution No. 110, introduced by Senator Heitmeier, proposes amendments to existing Senate rules concerning the prefiling of legislative instruments that aim to produce a net decrease in state revenues. Specifically, the resolution mandates that any legislative proposal anticipated to result in a revenue loss of $10 million or more annually over a five-year period must be prefiled by January 15 of the relevant fiscal year. This aims to ensure that lawmakers evaluate the potential economic impacts of such bills prior to their introduction and discussion in committee settings.
Sentiment
The response to SR110 expresses a generally supportive sentiment among those favoring more rigorous analysis of proposed tax decreases. Advocates argue that the heightened scrutiny will foster a more informed decision-making process, ensuring that the state can maintain fiscal responsibility while considering beneficial tax reductions. However, there may also be concerns about the increased bureaucratic complexity such a requirement could impose on legislators, which some may interpret as a potential deterrent to necessary tax reform initiatives.
Contention
Notably, potential contention arises from the balance between fostering tax relief and ensuring sound fiscal management. Critics could argue that the new procedural requirement might stifle necessary legislative action by imposing additional burdens on authors of revenue-lowering bills. There is a possibility that this could lead to further politicization of tax issues, as thorough evaluations may amplify existing partisan divides regarding tax policy. Ultimately, the successful implementation of SR110 will depend on how effectively it navigates these dynamics and whether it ultimately strengthens legislative processes or complicates them unnecessarily.
Requires prefiling by January 15 of any legislative instrument which produces a net decrease in taxes, fees, charges or other revenues received by the state of $10 million or more annually in any one of the 5 fiscal years; a report by the proponents on the instrument's economic effects; and a review of such report by the legislative fiscal office.
Requires rebate impact notes on certain legislative instruments with a net decrease in revenues due to rebates by the state. (gov sig) (EG SEE FISC NOTE GF EX See Note)
Provides the information to be submitted to the legislative fiscal information for the review of instruments relative to tax exemptions, exclusions, deductions, and credits. (RE SEE FISC NOTE GF EX)
Authorizes the executive budget to contain a "permanent income tax cut" based upon some or all of the amount of recurring revenues which the Revenue Estimating Conference estimates will be actually received by the state in a fiscal year which are in excess of the amount estimated in its official forecast for the fiscal year. (7/1/10)
Provides for the annual reporting to the Joint Legislative Committee on the Budget by departments and public postsecondary education management boards on enacted legislation with significant fiscal impact. (7/1/13) (EN SEE FISC NOTE GF EX See Note)
Relating to assessment of public school students, providing accelerated instruction, appropriately crediting certain student performance, and eliminating requirements based on performance on certain assessment instruments.
Relating to the assessment of public school students, including the development and administration of assessment instruments, and technology permitted for use by students.
Relating to secondary-level assessment of public school students and the use of individual graduation committees to satisfy certain public high school graduation requirements.