WORK SESSION: HB 3072 A

 

TAPES 179, A

 

SENATE REVENUE COMMITTEE

August 26, 2003   1:00 PM   STATE CAPITOL BUILDING

 

Members Present:                        Senator Ryan Deckert, Chair

                                                Senator Ted Ferrioli, Vice Chair

                                                Senator Tony Corcoran

                                                Senator Rick Metsger

                                                Senator David Nelson

                                                Senator Charlie Ringo

                                                Senator Bruce Starr

 

Members Excused:                      Senator Lenn Hannon

 

Staff Present:                            Paul Warner, Legislative Revenue Office

                                                Lizbeth Martin-Mahar, Legislative Revenue Office

                                                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 –A2 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.