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Ways and Means committee approves HB 155 as amended after split over timing of tax cut
Summary
The House Ways and Means Committee voted 11-9 to advance House Bill 155 as amended, changing the bill's effective date and prompting debate over projected revenue impacts and timing for local governments.
The House Ways and Means Committee voted 11-9 to recommend HB 155 as amended, moving the bill forward with a change to its effective dates that delays implementation to the tax year beginning 2027.
Committee members debated whether delaying or advancing the tax cut would produce or remove state revenue at a time when local governments face tight budgets. Supporters of the amendment said the delay gives the Legislature time to monitor revenue receipts and, if necessary, repeal the change before it takes effect. Opponents said the change would reduce revenues when municipalities already face service pressures and noted long-term revenue declines adjusted…
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