This afternoon, February 11, MACo Legislative Director Andrea Mansfield presented testimony opposing Income Tax Subtraction Modification – Retirement Income of Law Enforcement, Correctional Officer, Fire, Rescue, and Emergency Services Personnel, SB115. This is one of numerous expected this session to exempt additional retirement income, all of which will have significant revenue effects on the State and local governments.
The written testimony states:
State fiscal decisions compound these issues. A year after formula funding was restored and additional funding provided for some programs, the Governor’s proposed FY 2016 budget seeks to roll back virtually all of these increases, sending distributions in most areas of direct aid for county governments back toward the deepest levels of the “great recession.” Reductions in education funding will also place enormous increased pressure on the counties to provide dollars for public schools. Legislation that further reduces county revenues would make it substantially more difficult for counties to manage their budgets to provide needed services.
All of MACo’s 2015 Legislation can be found in the Legislative Database.