05/07/2025 09:00 AM Senate FINANCE

SENATE BILL NO. 92                                                                                                            
                                                                                                                                
     "An Act establishing an income tax on certain entities                                                                     
     producing or transporting oil or gas in the state; and                                                                     
     providing for an effective date."                                                                                          
                                                                                                                                
9:27:34 AM                                                                                                                    
                                                                                                                                
Senator Kiehl  MOVED to REPORT  SB 92 out of  Committee with                                                                    
individual  recommendations  and   the  accompanying  fiscal                                                                    
notes.                                                                                                                          
                                                                                                                                
9:27:55 AM                                                                                                                    
                                                                                                                                
Senator Kaufman  OBJECTED for discussion. He  stated that he                                                                    
did  not  support  the  fiscal plan.  He  thought  the  bill                                                                    
attempted to  accomplish the tax  pieces of the  fiscal plan                                                                    
but  without the  other  functional  pieces, including  many                                                                    
things  developed in  the Fiscal  Policy  Working Group.  He                                                                    
thought a comprehensive plan would  include such elements as                                                                    
a  spending  cap,  better management  processes  within  the                                                                    
executive  branch,  and  other  items. He  thought  the  tax                                                                    
proposed in the  bill risked  upsetting the  apple cart  for                                                                    
those  that would  come to  the state  to do  transformative                                                                    
work. He did not support the bill.                                                                                              
                                                                                                                                
Senator  Kaufman  WITHDREW  his objection.  There  being  NO                                                                    
further OBJECTION, it was so ordered.                                                                                           
                                                                                                                                
CSSB 92(FIN)  was REPORTED out  of committee with  three "do                                                                    
pass"  recommendations, two  "do not  pass" recommendations,                                                                    
and  two  "no  recommendations";  and  with  one  previously                                                                    
published indeterminate fiscal note: FN 1(REV).                                                                                 
                                                                                                                                
9:29:18 AM                                                                                                                    
AT EASE                                                                                                                         
                                                                                                                                
9:31:20 AM                                                                                                                    
RECONVENED                                                                                                                      
                                                                                                                                
Co-Chair Hoffman relayed that the afternoon meeting was                                                                         
canceled.