Members of the House and Senate continue to negotiate differences between the chambers’ versions of the state’s two-year main operating budget, House Bill 166. The spending plan contains several major policy provisions that would affect manufacturers — including workforce funding, numerous tax provisions, and a plethora of smaller changes.
The HB 166 conference committee convened Tuesday to receive the latest revenue estimates from OBM and LSC. Conferees were told that tax revenue for the current fiscal year — as well as the two covered by the new budget — would be hundreds of millions more than the estimates used at the beginning of the budget writing process. After the hearing, the committee recessed until a later date, which was still unknown as of the deadline for this issue of the Leadership Briefing.
The conferees have a deadline of 11:59 p.m. Sunday, June 30, to provide a final budget agreement. If the committee fails to produce a report that is accepted by the House and Senate, and signed by the governor, then the state would require a continuing resolution — a temporary funding measure to provide for the functions of state government. Both the House and Senate are scheduled to be in session for the weekend in anticipation of a budget agreement. 6/27/2019