Two House Bills came before the Senate finance committee for consideration, Tuesday.
House Bill 2854, which would exempt sales from the consumers sales and service tax and use tax by not for profit volunteer school support groups raising funds for schools, was reported to the full Senate following consideration.
The state’s Deputy Tax Commissioner, Lydia McKee, came before members to explain the intentions of the proposed legislation. According to the commissioner, if passed, this bill would now only exempt certain taxes, but also allow for schools to maximize their fundraising periods from three and a half days to 14 days. McKee stated that the increase is intended to help raise more funding for local school boards.
Also passed by the committee was House Bill 2829, relating to the termination of severance taxes on limestone and sandstone. According to counsel, the bill would result in a fiscal loss of $1.1 million from general revenue.
