CLICS/CLICS2022A/commsumm.nsf
PUBLIC
BILL SUMMARY For OSA PRESENTATION ON TAX EXPENDITURE EVALUATION REPORTS
INTERIM COMMITTEE LEGISLATIVE OVERSIGHT COMMITTEE CONCERNING TAX POLICY & TASK FORCE
Date Aug 12, 2022
Location SCR 357
OSA Presentation on Tax Expenditure Evaluation Reports - Committee Discussion Only
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11:18:39 AM |
Mr. Trey Standley
and Mr. James Taurman, representing the Office of the State Auditor, came
to the table discuss the office's insurance premium tax expenditure evaluations.
Their presentation may be found in Attachment D.
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11:24:34 AM |
Mr. Taurman began by discussing insurance premium tax expenditures overall and the fraternal society exemption.
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11:30:04 AM |
Mr. Taurman continued
by discussing the evaluation of the tax-exempt organizations insurance
premium tax deduction and the employee retirement plan insurance premium
tax deduction.
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11:36:45 AM |
Mr. Taurman highlighted the unauthorized insurance premium tax expenditures and several policy considerations.
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11:37:59 AM |
Mr. Trey Standley,
Office of the State Auditor, answered a committee question regarding legal
analysis of whether a vote of the people is necessary for some unauthorized
insurance premium tax expenditures. He also discussed certain reporting
requirements.
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11:43:59 AM |
Mr. Taurman continued by discussing the long term care insurance credit and the in-state investment pre-1969 premium tax deduction.
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11:52:24 AM |
Mr. Taurman end his presentation by discussing the crop hail insurance premium tax expenditure.
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11:52:50 AM |
The committee took a brief break.
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