Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Senate Finance chair unveils Senate Bill 1: $33.29 billion all‑funds base budget with $3 billion new property‑tax relief
Summary
Senate Bill 1, the Senate's base budget for fiscal 2026–27, was presented by Chair Jane Huffman with funding highlights including $33,290,000,000 in all funds and multiple one‑time investments and tax‑relief placeholders. The committee opened hearings on the bill with presentations to follow from the Comptroller and the Legislative Budget Board.
Senate Finance Chair Jane Huffman laid out Senate Bill 1, the committee’s base budget for fiscal years 2026–27, including an all‑funds total she described as $33,290,000,000 and a general‑revenue figure she read as “151.6 billion.” Chair Huffman said the bill centers on a mix of one‑time investments, maintenance of existing commitments and targeted tax relief items that the Senate is proposing for consideration.
Huffman told the committee the bill includes new property‑tax relief measures — including $3,000,000,000 to raise the residential homestead exemption and $3,000,000,000 in additional maintenance‑and‑operations (M&O) rate compression — and a $500,000,000 placeholder “for tax relief to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
