Legislative Update Week 8
Quiet week as the legislature returns from a short break.
Legislators returned from their five-day break after Turnaround to a short week with little action. Committees are gearing up for the second half of the session, with each chamber beginning to schedule hearings on bills that passed out of the opposite chamber last week. There was very little floor action, and Friday’s session was pro forma, meaning that each chamber only gaveled in for brief ceremonial purposes before adjourning.
Bills of Interest
HB 2457
Enacting the asbestos trust claims transparency act passed out of the House, 77-40 on Feb. 22. The bill
requires a plaintiff to conduct an investigation, file all asbestos trust claims that can be made against defendants and provide a sworn statement indicating the investigation has been conducted and all possible claims filed
. The bill has now been
referred to the Senate Judiciary Committee and is scheduled for a hearing on March 8, 2018, 10:30 AM, room 346-S. The supplemental note is available,
here.
HB 2753
mandates periodic legislative reviews of certain tax credits - including the historic tax credit. It requires that the Secretary of Revenue to give a presentation to the committee on taxation each year addressing the history of certain tax credits, an overview of how they are is administered, and an assessment of their economic impact. Each credit would be reviewed by the legislature on a three or four year cycle. The bill is scheduled for a hearing in the House Tax Committee on Monday, March 5, at 3:30 p.m. Listen in live
here
.
Committees of Interest
On Wednesday, Feb. 28 at 9:30 a.m., the Senate Committee on Assessment and Taxation held an informational briefing on property valuation for large commercial property.
