04/12/1994 09:30 AM House STA

  HB 541 - ADVISORY VOTE REGARDING STATE REVENUE                               
                                                                               
  CHAIRMAN VEZEY opened HB 541 for discussion.  He noted HB
 had been heard once before.                                              
                                                                               
  Number 019                                                                   
                                                                               
  JAY HOGAN, CONTRACT WORKER, HOUSE FINANCE COMMITTEE,                         
  addressed HB 541.  He stated the House Finance Committee                     
  sponsored HB 541 at the request of the majority membership.                  
  HB 541 would put before the voters at the upcoming general                   
  election, a preference question whether voters would prefer                  
  as a revenue raising option, a state income tax, state sales                 
  tax or some adjustment to permanent fund dividends.                          
                                                                               
  MR. HOGAN focused on information in committee members'                       
  packets that is headed "NEWS RELEASE."  He stated this                       
  report is the Department of Revenue's best range estimates                   
  as to what the taxes or capping of dividends might produce.                  
  The personal income tax is estimated at a production of                      
  $250-$400 million a year.  The sales tax is estimated at                     
  $50-$100 million a year.  The report gives gross receipts as                 
  an option.  Another page illustrates the effect of capping                   
  the permanent fund dividend.                                                 
                                                                               
  (REPRESENTATIVE KOTT joined the meeting at 9:37 a.m.)                        
                                                                               
  CHAIRMAN VEZEY noted REPRESENTATIVE KOTT's arrival.                          
                                                                               
  Number 073                                                                   
                                                                               
  REPRESENTATIVE OLBERG moved to pass HB 541 from committee                    
  with individual recommendations.                                             
                                                                               
  Number 075                                                                   
                                                                               
  CHAIRMAN VEZEY asked the committee secretary to call the                     
  roll.                                                                        
                                                                               
  IN FAVOR:      REPRESENTATIVES VEZEY, B. DAVIS, G. DAVIS,                    
                 OLBERG.                                                       
  OPPOSED:       REPRESENTATIVE KOTT.                                          
  ABSENT:        REPRESENTATIVES ULMER, SANDERS.                               
                                                                               
  MOTION PASSED