Chamber Legislative Update is Saturday
Legislators whose districts include Daviess County are expected to be at the Greater Owensboro Chamber of Commerce at 8 a.m. Saturday for a Chamber Legislative Update.
The meeting will be in the third floor conference room of the Commerce Center, 200 E. Third St.
Candance Castlen Brake, chamber president, said there are several bills of interest to chamber members.
“Last Friday, Kentucky House Republicans filed House Bill 8, which would decrease the personal income tax rate from 5% to 4% beginning January 2023,” she said. “If economic triggers are met, the legislation would enable the continued lowering of personal income tax to zero over a period of years.
“The bill, as currently proposed, does not address corporate income tax. It does, however, shift Kentucky’s reliance on the personal income tax to a consumption-based tax.”
She said, “Additionally, House Bill 8 would add a 6% sales tax to several services, including financial consulting services, nonmedical cosmetic surgery, telemarketing, photography, massages, bodyguards, polling, tattooing, social event planning and many more. The measure also implements a battery reclamation fee on electric and hybrid motor vehicles and a tax on the use of fee-for-service charging stations. We expect this bill to go to conference committee and will keep you updated.”
Brake said, “The Senate Budget Committee approved a bill that would give $1.15 billion in one-time income tax rebates to Kentuckians later this year. Under the legislation, individual tax filers would receive a $500 rebate, with a maximum of $1,000 per household.”
She said, “Gov. (Andy) Beshear, citing rising inflation, is supporting legislation that would lower the state’s sales tax from 6% to 5% for a two-year period.
“The Senate will soon pass its version of the state budget and revenue plan. At that time, leaders from both bodies will meet to craft the final version of the state budget and tax/revenue plans.”
Saturday’s meeting with legislators is open to chamber members only.
In past years, the chamber’s legislative forum has been followed by a legislative breakfast at the Green River Area Development District offices, where legislators from across the seven-county region discussed issues. But that event isn’t being held this year because of concerns about the coronavirus.
By Keith Lawrence Messenger-Inquirer