The end of session revenue forecast was released by the State Economist on May 15, telling legislators how much money they can expect to bring in in the current biennium (2017-2019) and the next (2019-2021). Revenues for 2017-2019 are up $900M over the forecast issued just three months ago, and $2.4 billion more than was initially predicted back in 2017. The strong revenue forecast is expected to result in an income tax kicker—to be issued with 2019 tax returns—totaling $1.4 billion. The revenue forecast was a key milestone for legislative leaders to determine what to do with hundreds of bills that require state expenditures and are sitting in the Ways and Means Committee. Many of these bills relate to housing and land development, and OAR is tracking them closely.
Bills that OAR is supporting include:
- Efforts to help homeowners replace failing septic systems (SB 756)
- Comply with woodsmoke emissions regulations (SB 1031/HB 3408)
- Provide grants or loans to communities for workforce housing (HB 2055A/HB 2056)
If you have questions, concerns or comments about any legislation effecting REALTORS®, please contact Political Advocacy Director and Staff Counsel Jeremy Rogers.