Dear Neighbors,
The legislative session is underway and the pace is picking up to ensure we adjourn by May 23. Below are a few legislative items in which I thought you might have interest.
Federal Tax Conformity
One of my bills, HF 2875, which relates to federal tax conformity has been scheduled for a hearing in front of the House Taxes Committee tomorrow. Whenever Congress changes federal tax law, the Legislature must decide whether and how to conform to the changes at the State level. HF 2875 conforms Minnesota’s tax law to recent federal changes. However, if a federal change reflects any kind of revenue increase Minnesota does not acquire that tax increase. The bill also establishes a process for Minnesota to conform in advance to future federal tax changes so it would essentially provide ongoing tax cuts and is especially helpful for years (like this year) when tax filing season starts before the Legislature convenes. My bill aims to simplify the tax filing process and ease the burden for small businesses.
Bonding
Traditionally, during the even year of the biennium the Legislature works together to fund capital investment projects statewide. Passing a robust Bonding Bill on existing state infrastructure is a priority of mine and it’s important to take advantage of the all-time low interest rates. I am currently working on a bill that would provide $1.1 million for Normandale Community College, which would specifically go towards classroom and student services renovation. When we invest in our students through college infrastructure improvement, we invest in our ability to maintain a competitive economy.
Survey
With less than 8 weeks to adjournment, I hope you will take a moment to complete my 2016 legislative survey online. I welcome your questions or comments on any issue. Don’t hesitate to contact me any time.
Sincerely,
Paul