D98C18DCA13F2E8D8725820C005AB7E7 Hearing Summary

Mr. Henry Sobanet, Director, and Mr. Jason Schrock, Deputy Directory, both representing the Office of State Planning and Budgeting (OSPB), discussed the most recent economic revenue forecast and some initiatives underway at OSPB.  Committee members received information about the FY 2018-19 General Fund overview published in the OSPB December 2017 economic forecast (Attachment D).

Mr. Sobanet commented on a new policy with regard to how fiscal notes published by Legislative Council Staff will represent continuing tax credits.  Discussion ensued on this topic.  

Mr. Sobanet responded to questions about an audit of tax expenditures, federal tax reform, and findings from the Pay for Success initiative.  He next offered to discuss changes to PERA recommended by the Governor's office.  Mr. Sobanet responded to questions about the residential assessment rate.