|
| Date: | March 23, 2011 | | Contact Name: | Peter D. Winiecki | | Contact Phone: | 651-297-8077 | | Contact Email: | peter.winiecki@senate.mn | | For Immediate Release | |
|
| SENATE TAX COMMITTEE INTRODUCES OMNIBUS TAX BILL |
(St. Paul) – The Senate Tax Committee had their first look at the 2011 omnibus tax bill on Wednesday. The bill’s chief author, Senator Julianne Ortman (R-Chanhassen) began by explaining the bill with assistance from Senate Fiscal staff. The committee plans to hear testimony and consider amendments to the bill on Thursday and Friday if necessary, concluding with a vote in order to meet the Senate Republican Majority’s aggressive committee deadlines.
“This bill delivers on our commitments to Minnesota taxpayers in a variety of ways,” said Sen. Ortman. “The bill ensures that our state government will live within its means because we are not considering tax increases. In order to accomplish this and meet our budget target of $780 million in reductions, decisions were made based on principles of sound tax policy including simplicity, transparency and stability.”
“We need to lower the cost of job creation in Minnesota,” said Deputy Majority Leader Geoff Michel (R-Edina). “The property tax relief included in this bill sends a strong message to job creators --of all size-- that Minnesota is open for business.”
Highlights of the Senate Tax Bill Include:
-Provides over $200 million in total tax relief.
-Rolls back and phases-out by 2023 the statewide business property tax by providing relief for Minnesota’s job creators.
-Focuses on direct tax relief to taxpayers by jump starting middle class property tax refunds $44.3 million in FY 2013.
-Provides new phased-in military pension exemption to recognize the service and contributions of our veterans.
-Begins to reform the state-local fiscal relationship by providing sales tax exemption for townships.
“Since the tax committee’s budget consists entirely of property tax aids and credits, the primary reform measures are aimed at minimizing the impact of the reductions to property taxpayers across the state and making reductions in a deliberate manner with a clear intent on prioritizing and maintaining core programs,” said Sen. Ortman.
Ortman added: “We are moving forward with a sincere desire to provide as much tax relief as possible to individual, business, agricultural and seasonal property taxpayers. We hope the effect of these short and long term reforms will be a stronger relationship between property taxpayers and their local governments.”
Click here for the complete budget tracking spreadsheet.
The next meeting of the Senate Tax Committee is at 8:30 AM, Thursday, March 24th in room 15 of the State Capitol. The hearing may recess and continue in evening at 6 pm in Room 107.
To testify, please send an email to: beth.kadoun@senate.mn or call 651-296-5640.
