This was the eighth week of the 2022 Legislative Session and we are moving forward at the Capitol as important deadlines are coming up fast. Wednesday, February 23, was the deadline for original floor action on House appropriations and revenue bills. Those that passed have been sent to the Senate for assignment to committees.
We approved several revenue bills with bipartisan support, which is an important sign of the reasonableness of most House efforts this session. “Revenue bonds” deal with the state tax structure that funds aspects of government. They may impose a tax or give a tax credit.
For example, the Pregnancy Resource Act (House Bill 1685) was passed with a vote of 115-0. This measure would authorize a tax credit for individuals or businesses who donate money to a nonprofit that operates as a crisis pregnancy center.
Another popular measure, House Bill 1564, passed 119-0. It would authorize county or municipal leaders to grant a partial ad valorem tax exemption for nonresidential property that is being converted to residential property. This idea will be an important tool for revitalization of downtown areas across the state. Many former commercial buildings are being converted into lofts and apartments in our city centers. Hopefully, this measure will help more towns and cities revitalize their downtowns.
House Bill 1530 would provide bond money to match federal funds in the Water Pollution Control Revolving Fund. HB 1530 passed 112-8 and has been sent to the Senate.
Two different bills would allow income tax credits for certain entities. House Bill 1108 would authorize an income tax credit for certain railroad reconstruction and/or replacement expenditures. House Bill 1684 would authorize an income tax credit for qualified wood energy products and forest maintenance projects. Both bills passed the House and have been sent to the Senate for consideration.
Many of these revenue bills include a “reverse repealer” clause, meaning that these bills will go to conference for further revision before the end of the session.
Our next major deadline was March 1, when House Committees had to pass general bills sent from the Senate or they died for the session.
As always, I am available to help and hear your concerns about these issues or any others that will affect the quality of life in our communities.
