WORK SESSION: HB 3072 A

 

TAPES 179, A

 

SENATE REVENUE COMMITTEE

August 26, 2003áá 1:00 PMáá STATE CAPITOL BUILDING

 

Members Present:ááááááááááá ááááááááááá Senator Ryan Deckert, Chair

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator Ted Ferrioli, Vice Chair

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator Tony Corcoran

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator Rick Metsger

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator David Nelson

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator Charlie Ringo

ááááááááááááááááááááááá ááááááááááá ááááááááááá Senator Bruce Starr

 

Members Excused:ááááááááá ááááááááááá Senator Lenn Hannon

 

Staff Present:ááá ááááááááááá ááááááááááá Paul Warner, Legislative Revenue Office

ááááááááááááááááááááááá ááááááááááá ááááááááááá Lizbeth Martin-Mahar, Legislative Revenue Office

ááááááááááááááááááááááá ááááááááááá ááááááááááá Tara Lantz, Committee Assistant

 

TAPE 179, SIDE A

 

003

Chair Deckert

Calls meeting to order at 1:19 pm

 

OPENS WORK SESSION ON HB 3072 A

 

010

Lizbeth Martin-Mahar

Explains the ľA2 amendment (Exhibit 1) which helps the Department of Revenue comply with the current practice of the federal estate tax law. Refer to staff measure summary (Exhibit 2). Gives history of federal changes in the estate tax law (Exhibit 3). Discusses revenue impact (Exhibit 4). Explains the difference between this proposal and the one in HB 2747.

 

 

 

107

Sen. Ferrioli

States that this is good news because it forgives the back taxes for people that under filed due to bad advice received from the Department of Revenue and that it is a necessary fix.

 

 

 

131

Sen. Nelson

Asks why they are stopping at the $1 million level when the federal government is going to $1.5 million.

 

 

 

136

Sen. Deckert

Responds that the House has a version that is more aggressive but that $1 million is where he is comfortable.

 

 

 

144

Sen. Metsger

Asks if this is considered in the co-Chairs budget.

 

 

 

152

Warner

Responds negatively and explains that it is a very small adjustment.

 

 

 

165

Sen. Starr

MOTION: MOVES HB 3072-A2 AMENDMENTS DATED 8/26/03 BE ADOPTED.

 

 

 

168

Sen. Deckert

ORDER: ROLL CALL VOTE: MOTION PASSES: 5-2-1.

SENATORS ANSWERING AYE: METSGER, RINGO, STARR, FERRIOLI, DECKERT.

SENATORS ANSWERING NO: CORCORAN, NELSON.

SENATOR EXCUSED: HANNON.

 

 

 

172

Sen. Ringo

MOTION: MOVES HB 3072 A TO THE SENATE FLOOR WITH A DO PASS AS AMENDED RECOMMENDATION.

 

 

 

175

Sen. Starr

States that even though this is purely a political move, he will vote for the bill in order to get it passed and help the people that were negatively impacted by the confusion of the current law.

 

 

 

180

Sen. Deckert

ORDER: ROLL CALL VOTE: MOTION PASSES: 5-2-1.

SENATORS ANSWERING AYE: METSGER, RINGO, STARR, FERRIOLI, DECKERT.

SENATORS ANSWERING NO: CORCORAN, NELSON.

SENATOR EXCUSED: HANNON.

Sen. Deckert will carry the bill on the Senate Floor.

 

CLOSES WORK SESSION ON HB 3072 A

 

185

Sen. Deckert

Adjourns meeting at 1:32 pm.

 

 

 

 

Tape Log Submitted by,

 

 

 

Tara Lantz, Committee Assistant

 

Exhibit Summary:

  1. HB 3072, Sen. Deckert, Proposed HB 3072-A2 Amendments, 5pp.
  2. HB 3072, Lizbeth Martin-Mahar, Staff Measure Summary, 1p.
  3. HB 3072, Lizbeth Martin-Mahar, Current Law and Recent Changes in Federal Estate Tax Law, 2pp.
  4. HB 3072, Lizbeth Martin-Mahar, Revenue Impact Statement, 1p.