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Tax credit reduces projected revenue by $50 million; JFAC staff updates general fund daily sheet
Summary
Legislative budget staff reported a $50 million revenue reduction tied to House Bill 93 (parental choice tax credit) and flagged a fiscal note that will add to Tax Commission costs; the general fund daily update showed modest movement in agency enhancement totals and tracking of bills including a judicial salary vehicle bill.
Keith Bybee, division manager for budget and policy analysis at the Legislative Services Office, briefed the Joint Finance‑Appropriations Committee on the general fund daily update and a set of bill tracking changes during the Feb. 28 meeting.
Bybee said House Bill 93, the parental choice tax credit recently signed by the governor, reduces projected revenue by $50 million in the legislative column and that the bill’s fiscal note includes additional Tax Commission operational costs. He told members those fiscal‑note costs could be handled under the Tax Commission’s budget or in a later trailer bill depending on timing.
Bybee also summarized current differences between the Legislature’s actions and the governor’s recommendations: enhancements tracked by the analyst had reached $7.4 million versus the governor’s $242 million enhancement baseline in the packet, and the legislature’s totals were showing a 2.7% year‑over‑year increase in general fund appropriations driven largely by health education and insurance costs.
Representative Manwaring asked about a $125,000 difference tied to House Bill 93 visible in the packet. Bybee explained that the $125,000 difference reflected State Tax Commission resource needs and said an updated fiscal note was expected that would account for the remainder.
Bybee noted other tracking items that might be removed from the sheet if they did not show movement, and referenced House Bill 322 as a judicial salary vehicle under consideration with a projected amount of $3,870,000 appearing on the tracking sheet.
Ending: The analyst said he would update the daily sheet and remove bills that have not moved in committee, and that members should expect a refreshed green sheet at the next meeting.
