Legislative Update – May 14, 2018

Last week of Session

This is the final week of the 2018 legislative session, and we can expect long days and nights while lawmakers and Governor Dayton negotiate an end-of-session agreement. There is movement in the supplemental budget conference committee. Conferees will begin to adopt language today. Also today, the House Ways and Means committee will discuss an amendment to the House budget resolution. The bonding bill will likely be debated on the House floor, and the Senate bonding bill will be taken up in Senate Finance later today.

Although the constitutionally-mandated adjournment date is next Monday, May 21, Sunday is the last day lawmakers can pass bills this session. Monday is often reserved for ceremonial traditions and administrative matters.

Tax agreement reached

On Friday, conferees of the House and Senate Tax Omnibus conference committee released a joint conference position on the tax bill. The proposal maintains a cut in both the state’s lowest income tax rate and second income tax tier, as proposed by the Senate and House respectively. Over the course of the next two years, the rates for the state’s lowest income earners would fall from 5.35% to 5.25% and for the second tier, from 7.05% to 6.85%. The passage of the federal tax bill has created an urgent need for conformity at the state level. Failure to pass a bill would result in a tax increase for many Minnesotans, something legislators and Governor Dayton have all agreed they want to avoid. However, Gov. Dayton has not signed off on the deal yet.

The spreadsheet detailing the agreement can be found HERE.

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