Senator Mike –
Week of September 21, 2009
Budget Agreement Announced – Take 2
For the second time in as many weeks, the Governor and leaders from three legislative caucuses (Senate Republicans, Senate Democrats, and House Democrats) have announced a framework for a $27.945 billion state budget. Although specifics are still being worked out, the plan includes:
Tapping into the Rainy Day Fund, Health Care Provider Retention Account, and MCARE;
· Enacting a tax amnesty program;
· Expanded leasing of state-owned land for Marcellus Shale drilling;
· Delay in the planned phase out of the Capital Stock – Franchise Tax;
· Expansion of the Net Operating Loss (NOL) provision of the Corporate Net Income Tax (CNI) and expansion of the Single Sales Factor of the CNI;
· Legalization of table games;
· A 25 cent increase in the Cigarette Tax, applying it to include "little cigars;"
· Tax amnesty program;
· Reduction in various tax credits by $39 million;
· Expanding the Sales Tax to include theaters, dances, music concerts and performing arts admissions, as well as museums, historical sites, zoos and parks.
· Decreasing the share of slot revenues going to the Race Horse Development Fund from 12 percent to 10 percent for four years, with the 2 percent difference going to the General Fund.
Mike Folmer
This post has been edited by Chance: 22 September 2009 - 08:03 AM







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