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Taxes

TWENTY-FIFTH MEETING

2007-2008 Regular Session - Monday, March 19, 2007

STATE OF MINNESOTA TWENTY-FIFTH MEETING
HOUSE OF REPRESENTATIVES EIGHTY-FIFTH SESSION

TAX COMMITTEE

MINUTES


Representative Ann Lenczewski, Chair of the Committee, called the meeting to order at 2:16 P.M. on Monday, March 19, 2007, in Room 10 of the State Office Building.

The Committee Legislative Assistant noted the roll.

Members present:

LENCZEWSKI, Ann (Chair)
WOLLSCHLAGER, Sandy (Vice-Chair)
ATKINS, Joe
CARLSON, Lyndon
DAVNIE, Jim
DELAFOREST, Chris
DEMMER, Randy
DILL, David
ERHARDT, Ron
HILSTROM, Debra
JAROS, Mike
KOENEN, Lyle
KOHLS, Paul
LANNING, Morrie
LESCH, John
LIEBLING, Tina
MARQUART, Paul
MULLERY, Joe
RUKAVINA, Tom
SIMPSON, Dean
SOLBERG, Loren
TILLBERRY, Tom
ZELLERS, Kurt

Members excused:

BROD, Laura
PAULSEN, Erik
THAO, Cy

A quorum was not present.

HF1367 Liebling Alternative minimum tax exemption phaseout threshold inflation adjustment provided.

HF1271 Mullery Gift taxation provided for gifts made within three years of death.

HF1212 Mullery Gift tax imposed and coordinated with the estate tax.

HF1511 Simon Alternative minimum tax exemption amount increased.

Aaron Swanson (citizen from Prior Lake, MN) and Todd Koch (Minnesota Society of CPAs) testified on HF1511.

A quorum was present.

Representative Liebling moved HF1367 be laid over for possible inclusion in the Omnibus Tax Bill.

HF1367 was laid over for possible inclusion in the Omnibus Tax Bill.

Representative Mullery moved HF1212 be laid over for possible inclusion in the Omnibus Tax Bill.

Representative Mullery moved the H1212A1 amendment. THE AMENDMENT WAS ADOPTED.

HF1212, as amended, was laid over for possible inclusion in the Omnibus Tax Bill.

Representative Mullery moved HF1271 be laid over for possible inclusion in the Omnibus Tax Bill.

HF1271 was laid over for possible inclusion in the Omnibus Tax Bill.

Representative Lenczewski moved HF1511 be laid over for possible inclusion in the Omnibus Tax Bill.

Representative Lenczewski moved the H1511A1 amendment. THE AMENDMENT WAS ADOPTED.

HF1511, as amended, was laid over for possible inclusion in the Omnibus Tax Bill.

HF2235 Juhnke Estate tax exclusion for certain farm and small business properties.

Representative Simpson moved HF2235 be laid over for possible inclusion in the Omnibus Tax Bill.

Mike Hickey (National Federation of Independent Businesses), Chris Raditz (Public Policy Director, Minnesota Farm Bureau) and Paul Heckt (attorney from Bloomington, MN) testified on HF2235.

HF2235 was laid over for possible inclusion in the Omnibus Tax Bill.

Dr. Paul Wilson (Research Director, Department of Revenue) presented the Minnesota Department of Revenue Tax Incidence Report.

Representative Wollschlager assumed the gavel.

Representative Kohls moved approval of minutes for Thursday, March 15, 2007. THE MOTION PREVAILED.

The committee adjourned at 3:46 P.M.


Representative Ann Lenczewski, Chair


Jamie Becker-Finn, Committee Legislative Assistant
More Info On This Meeting..

Department of Revenue presentation of Tax Incidence Study

HF1367 (Liebling) Alternative minimum tax exemption phaseout threshold inflation adjustment provided.
HF1511 (Simon) Alternative minimum tax exemption amount increased
HF107 (Erhardt) Wagering losses treatment modified under the alternative minimum tax.
HF2076(Brod) Alternative minimum tax repealed
HF187 (Brod) Estate tax federal exemption amount conformity provided.
HF2235 (Juhnke) Estate tax exclusion for certain farm and small business properties
HF1212 (Mullery) Gift tax imposed and coordinated with the estate tax.
HF1271 (Mullery) Gift taxation provided for gifts made within three years of death.