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Tax Package with Property Tax Freeze and Smaller Aid Cuts passes Senate Tax Committee Page 1 of 1 Kim Moore-Sykes . From: O'Rourke, Jennifer [JORourke@LMNC.ORG] .~II ~ :A.4' ~i-- "'" ~M ~ .~~ Sent: Monday, May 12, 2003 6:17 PM v-vv .) -r'" To: General legislative Subject: [legislative] Tax Package with Property Tax Freeze and Smaller Aid Cuts passes Senate Tax Committee Tax Package with Property Tax Freeze and Smaller Aid Cuts passes Senate Tax Committee After a weekend hearing where the Senate Tax Committee defeated a property tax freeze on a tie vote, the committee today considered a revised property tax article that will institute the two-year freeze on property taxes coupled with significantly lower reductions in LGA and market value homestead credit paid to cities. The committee went on to pass the entire tax bill, which includes income tax increases, cigarette tax increases, and an increase in the state business property tax. The bill will be considered on the Senate floor on Tuesday. The governor has vowed to veto any tax increase. Senate Tax Committee chair Larry Pogemiller described the freeze as a way to assure that deep aid reductions such as those proposed by the governor would not result in unacceptable property tax increases. The freeze will prohibit virtually all local government gmperty tax increases over the 2003 certified level for taxes payable in 2004 and 2005. New debt that 'would require an increased property tax levy in 2004 or 2005 would be prohibited. We will have more in this week's Cities Bulletin. You are currently subscribed to legislative as: ksykes@centervillemn.com To unsubscribe send a blank email to leave-Iegislative-4450H@listserv.lmnc.org This email has been scanned for all viruses by the MessageLabs Email Security System. For more information on a proactive email security service working around the clock, around the globe, visit http://www.messagelabs.com Y ouare currently subscribed to legislative as: ksykes@centervillemn.com To unsubscribe send a blank email to leave-legislative-4450H@listserv.lmnc.org This email has been scanned for all viruses by the MessageLabs Email Security System. For more information on a proactive email security service working around the clock, around the globe, visit http://www.messagelabs.com You are currently subscribed to legislative as: ksykes@centervillemn.com To unsubscribe send a blank email to leave-legislative-4450H@listserv.lmnc.org 5/14/2003