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Senate Finance committee adopts substitute to Senate Bill 1, reports it favorably 13-0
Summary
The Senate Committee on Finance adopted a committee substitute to Senate Bill 1 that layers significant tax relief and budget provisions and voted 13–0 to report the substitute favorably to the full Senate.
The Senate Committee on Finance adopted a committee substitute to Senate Bill 1 and voted 13 ayes, no nays, to report the substitute favorably to the full Senate.
The committee substitute, explained by Chairwoman Huffman, would provide a package of property tax relief and appropriations. It proposes $3,000,000,000 in additional maintenance-and-operations (M&O) rate compression, raises the residential homestead exemption to $140,000, and includes a $500,000,000 placeholder for business…
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