HB 2170 VOTE:NO – Died In Committee
Status (overview) of bill:https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/HB2170
Committee assigned to bill:https://olis.leg.state.or.us/liz/2019R1/Committees/HREV/Overview
This bill increases amount of estimated revenue for 2017-19 biennium that will negate the kicker, to be deposited in the Employer Incentive Fund in PERS.
Personal Choice and Responsibility
It allows the state to redo past budget to get around the constitution telling taxpayers they can’t be held accountable.
Allows the state to hold onto the kicker by retroactively resetting the state’s personal income tax revenue estimate for 2017-19 to $17.8 billion, up from the $17.1 billion estimate on which the current budget was built. Since $17.8 billion is state economists’ latest revenue prediction from November, it would likely allow the state to avoid paying out a kicker. Requires distribution of difference between amount actually collected and amount estimated after close of 2017 regular session to Employer Incentive Fund used for employer matching in a side account. If the $724 million projected amount went to reduce employer interest, it takes $435 million to reduce the 29% rate just one percent.
Government do-over to allow the kicker to go into PERS to reduce employer obligations. Provides for return to taxpayers of surplus revenue over the new adjusted estimate amount.