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Committee advances amendment to HB1168 to cut required levy by 10 mills across property classes
Summary
The House Finance and Tax Committee heard Representative Craig Hedlund summarize amendments to House Bill 1168 that would reduce the required mill levy from 60 to 50 and, after an amendment to name funding sources, the committee approved the amendment to the bill.
Representative Craig Hedlund, chairman of the House Finance and Tax Committee, told members on the record that House Bill 1168 had been amended to provide a 10-mill reduction “across all classes of property,” reducing the required levy from 60 mills to 50 mills.
The change is presented as broad; Hedlund said the 10-mill buydown “would equate to about $120,000,000” in fiscal cost. Representative Louser offered an amendment (labeled 7,001) that would identify funding sources for the buydown; Louser said he had spoken with Governor Armstrong and “he had his permission and his support to add the funding source that he had in another bill as the amendment to this bill.” Representative Louser said…
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