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House applies 5% administrative assessment to many dedicated funds; regulated agencies and LBA flagged small and uneven impacts
Summary
The House included a 5% administrative assessment on certain dedicated funds in HB 2; agency witnesses told the Senate Finance Committee the charge would produce only small amounts in some dedicated accounts and raised legal and implementation questions.
The House put a 5% administrative assessment on certain dedicated funds into its version of HB 2 to generate additional general-fund revenue. The Legislative Budget Assistant's office provided the committee with a long list of dedicated funds and a "negative list" of accounts that would be exempt.
Several agency witnesses said the measure's impact varies by fund. Amelia Galderi, the state banking commissioner, told the committee that…
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