The Senate Business, Labor, and Economic Affairs committee has tabled a bill to increase licensing fees for investment workers, leaving yet another executive tax proposal on the cutting room floor.
The fiscal note for House Bill 694, carried by Rep. Jim Hamilton, D-Bozeman, projected $7.7 million in new general fund revenue for fiscal 2020. The office of Gov. Steve Bullock included an increase of investment licensing fees in the executive budget proposal last fall.
The Senate Taxation committee also tabled another Bullock proposal Thursday, this one to increase Montana’s liquor excise and licensing taxes by 30 percent of their current rates. Senate Bill 339’s fiscal note projected $40.5 million in special and general fund revenue over the next four years.
Bill sponsor Sen. Jill Cohenour, D-East Helena, told the committee last month that “revenue enhancers” such as SB 339 are necessary to cover cuts made to the state Department of Public Health and Human Services in recent years.
Senate Taxation’s counterpart in the House tabled Senate Bill 360, carried by Sen. Tom Jacobson, D-Great Falls, the same day as Cohenour’s bill. Jacobson’s bill called for an increased tax on a rental car’s base fee from 4% to 6%.