Bills of interest for MONDAY, April 4, 2011

COMMITTEE ON FINANCE – AGENDA #1

2:00 P.M.

ROOM 308

HEARING NOTICE

SB570, SD2 RELATING TO TAXATION

PROPOSED HD1: Provides for the taxation of the pension income of: (1) An individual filer with federal adjusted gross income of $100,000 or more; (2) A joint or surviving spouse filer with federal adjusted gross income of $200,000 or more; and (3) A head of household with federal adjusted gross income of $150,000 or more. Makes the deduction for state taxes paid, inoperative for the same taxpayers. Limits the amount of itemized deductions that may be claimed by the same taxpayers. Delays the standard deduction and personal exemption increases approved under Act 60, SLH 2009, but makes the increases permanent.

SB754, SD1 RELATING TO TAXATION

PROPOSED HD1: Suspends temporarily the exemptions for certain persons and certain amounts of gross income or proceeds from the general excise and use tax and requires the payment of the tax at escalating rates. Effective 07/01/2011 and sunsets on 06/30/2015.

COMMITTEE ON FINANCE – AGENDA #2

3:30 P.M.

ROOM 308

HEARING NOTICE:

SB741, SD1 RELATING TO INTOXICATING LIQUOR

PROPOSED HD1: Increases liquor tax rates. Reduces the liquor tax rate on the first sixty thousand barrels produced in a small brewery or brewpub. Makes it lawful to provide a discount for liquor purchases through coupons or mail-in rebates when made in combination with other merchandise. Effective July 1, 2011.