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Committee advances revenue package, including volatility-cap change and hospital-tax negotiations
Summary
The committee moved SB 84 JFS, a revenue package that modifies the governor's plan in several areas — adjusting the volatility-cap threshold to free one-time resources, altering hospital-provider tax treatment to maximize federal revenue, and folding in recent committee-approved tax credits and sales-tax changes.
The Finance, Revenue and Bonding Committee voted to advance SB 84 to further action on the floor after a lengthy discussion about trade-offs between one-time revenue use and long-term fiscal guardrails.
Committee leaders said the substitute retained the governor’s proposals on conformity for research and development credits and other items while reducing the governor’s estimated revenue loss from $275 million to $221 million. The chairs said part of…
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