S_FIN_2024B 08/26/2024 12:11:56 PM Committee Summary PUBLICSTAFF SUMMARY OF MEETINGSENATE COMMITTEE ON FINANCE Date 08/26/2024 Attendance Buckner X Hansen X Simpson X Smallwood X Van Winkle X Kolker X Mullica X Time 12:11:56 PM to 01:13:20 PM Place SCR 357 This Meeting was called to order by Mullica This Report was prepared by Matthew Becker Hearing Items Action Taken hSCR24B-001 Postponed Indefinitely hSCR24B-002 Postponed Indefinitely hany bills referred to Senate Finance will be heard at this time Committee Discussion Only SCR24B-001 - Postponed Indefinitely 12:12:12 PM Senator Hinrichsen presented SCR24B-001, which refers a ballot measure to the November 2024 election allowing local governments to seek future voter approval to change from ad valorem taxation of property to a land value tax. 12:18:30 PM Senator Hinrichsen responded to committee questions about a land value tax system. 12:33:31 PM The committee recessed. 12:43:48 PM The committee reconvened. 12:45:33 PM Senator Hinrichsen continued to respond to questions from the committee and provided closing comments. 12:52:39 PM Motion Refer SCR24B-001 to the Committee on Appropriations. Moved Hansen Seconded Buckner No Hansen No Simpson No Smallwood No Van Winkle No Kolker Excused Mullica No YES: 0 NO: 6 EXC: 1 ABS: 0 FINAL ACTION: FAIL 12:52:52 PM Motion Postpone SCR24B-001 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. Moved Hansen Seconded Buckner Yes Hansen Yes Simpson Yes Smallwood Yes Van Winkle Yes Kolker Excused Mullica Yes Final YES: 6 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS SCR24B-002 - Postponed Indefinitely 12:54:35 PM Senators Baisley and Van Winkle presented SCR24B-002, which refers a constitutional amendment to voters at the 2024 general election. Conditional on voter approval, the resolution limits the amount of property tax revenue that a special district may collect each year, and changes how the special district's tax is assessed among properties. 01:11:30 PM Motion Adopt amendment L.002 (Attachment A). Moved Van Winkle Seconded Buckner No Hansen No Simpson No Smallwood Yes Van Winkle Yes Kolker Excused Mullica No YES: 2 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: FAIL 01:12:42 PM Motion Refer SCR24B-002 to the Committee on Appropriations. Moved Van Winkle Seconded Buckner No Hansen No Simpson No Smallwood Yes Van Winkle Yes Kolker Excused Mullica No YES: 2 NO: 4 EXC: 1 ABS: 0 FINAL ACTION: FAIL 01:13:02 PM Motion Postpone SCR24B-002 indefinitely using a reversal of the previous roll call. There was no objection to the use of the reverse roll call, therefore, the bill was postponed indefinitely. Moved Hansen Seconded Buckner Yes Hansen Yes Simpson Yes Smallwood No Van Winkle No Kolker Excused Mullica Yes Final YES: 4 NO: 2 EXC: 1 ABS: 0 FINAL ACTION: PASS any bills referred to Senate Finance will be heard at this time - Committee Discussion Only 01:13:20 PM The committee adjourned.
