The Senate Finance Committee met this morning on bills dealing with realty transfer taxes, historic preservation tax credits, the Reed Act-Unemployment Insurance and Reed Act-Employment Services and disaster abatement assistance. All four bills passed with three of them first being amended. Check the Capitol Toolbox later today for the full story.
|
|
|||
|
The Senate Finance Committee today met with the state’s major public pension agencies to discuss the status of Pennsylvania’s public pension funds and explore options to create a sounder footing for them. It was emphasized that changing benefits for current members or switching from a defined benefit to a defined contribution plan are not viable options. Instead, several speakers indicated exploring cash balance design may be promising. Look for the complete story in the the Capital Toolbox later today. Posted by Kim | Tags: pension, PSERS, SERS | Category: Public/Informational Committee Hearing, Senate Finance | Comments are closed | Share:
Today the Senate Finance Committee voted unanimously to report, as committed, Senate Bill 444. SB 444 is sponsored by Sen. Jane Earl (R-Erie) who commented that she would like to see the bill make it through the committee and eventually reach a resolution, but admitted that this is only the first step in what she believes will be a long process. Check out the Committee News section of the PLS Capitol Toolbox later today to read the full story. Posted by intern | Category: Senate Finance | Comments are closed | Share:
The nomination of Daniel Meuser as Secretary of Revenue was unanimously approved by the Senate Finance Committee this morning, following a brief confirmation hearing that touched on a variety of issues. Among the items discussed was the targeting of online sales tax payments as a priority for the Department, which currently estimates a 60-65% delinquency rate for purchases made over the internet. Sec. Meuser confirmed it is the opinion of the Administration that stricter enforcement of these sales tax payments would not break Gov. Corbett’s “no new tax” pledge. Check the Capitol Toolbox later the full story on the confirmation hearing, as well as several bills that were approved at the same meeting. Posted by Mike | Tags: revenue, sales tax | Category: Committee Voting Meeting, Senate Finance | Comments are closed | Share:
The Senate Finance Committee held a public hearing on changing the corporate net income tax reporting structure to a combined reporting system. Secretary Hassell of the Department of Revenue testified in support of the change, while industry experts who testified at the hearing shared mixed reviews. Check the Capitol Toolbox later for the full story. Posted by Jason | Tags: combined reporting, corporate net income, Delaware loophole | Category: Public/Informational Committee Hearing, Senate Finance | Comments are closed | Share:
The Senate Finance Committee held a public hearing on SB 1277 and SB 1278 this morning. Both pieces of legislation would prohibit local governmental units and municipal authorities from entering into a qualified interest rate management account (swaps) and SB 1278 adds additional requirements for the financial advisors by local government units. The committee heard from a number of testifiers including Robert Teplitz, Director of Policy and Planning for the Office of Auditor General, who expressed strong support for both pieces of legislation and discussed the negative consequences of swaps. Lucien Calhoun, Program Administrator for the Delaware Valley Regional Finance Authority, said an all out ban on swaps is not necessary and indicated that the measure would cost the Authority millions of dollars. Check the PLS Capitol Toolbox later today to read the full story. Posted by Matt | Category: Senate Finance | Comments are closed | Share:
The Senate Finance Committee voted unanimously to report favorably the Governor’s nomination of C. Daniel Hassell as Secretary of Revenue. Hassell has been serving as Acting Secretary since December. He responded to questions on a wide variety of topics including the tax amnesty program, small games of chance in taverns, revenues from Marcellus Shale, monthly revenue projections and the department’s modernization program. Check the Capitol Toolbox later for the full story. Posted by Jeff | Tags: Department of Revenue, small games of chance | Category: Committee Voting Meeting, Senate Finance | Comments are closed | Share:
The Senate Finance Committee held its final of a series of hearings on pension issues. The committee heard from NCSL for a national perspective, from the Keystone Research Center, and from the American Federation of Teachers. Discussion focused on the advantages and disadvantages of converting to a defined contribution plan or a hybrid defined contribution, defined benefit plan. Look for the complete story in the Capitol Toolbox this afternoon. Posted by Kim | Tags: PSERS, SERS | Category: Public/Informational Committee Hearing, Senate Finance | Comments are closed | Share:
The House and Senate Finance Committees held a joint public hearing regarding the Independent Fiscal Office as proposed in Act 50 of 2009. Mary Soderberg, Secretary of the Office of the Budget, testified and said that the Independent Fiscal Office would be duplicating a variety of functions and is unnecessary. Robert Powell, Senior Advisor of Government Policy for Cansler Fuquay Solutions, Inc. discussed how South Carolina started its Fiscal Office and made several recommendations for how Pennsylvania can successfully implement the proposed Office. Check the PLS Capitol Toolbox later today for the full story. The committees held a joint hearing on the establishment of the Independent Fiscal Office. Chairman Pat Browne (R-Lehigh) said the Office would give members of the Legislature the “tools and powers to meet their Constitutional mandate.” He stressed that the Office would provide transparent and unbiased information and provide for fiscal stability, accountability and informed public debate. Check the PLS Capitol Toolbox later today to read the full story. |
 |
|
|
Copyright © 2012 FYI by PLS - All Rights Reserved |
|||