Finance & Revenue

 State: Utah

The legislation: In special session, the Utah Legislature passed HB 2003 (UT 2nd Special Session | 2018) and SB 2001 (UT 2nd special session | 2018)

What do the bills do?

• Ends agreements with collectors of online sales tax, like Airbnb and Amazon, that allowed the companies to retain up to 18% of their sales tax collections
• The online sales tax will only apply if the company does 200 sales or $100,000 in sales in UT
• Tax cuts for manufacturers to boost the state economy

US News & World Report | Utah Legislature Passes Requirement for Online Sales Tax

Background on pension administration in Texas: 

• 24% increase in 2 years for top-paid 20 pension investment executives
• pension executive salaries & bonus exceed that of the Governor and agency heads

What 3 things did House Pension Chair Flynn point to in an interview?

• more to the picture than rising salaries within a debt-ridden system
• ” we have a responsibility to make sure these high salaries and these bonuses are justified.”
• that the salaires outpace those of the Govenror and agency heads caught his attention

Texas Monitor | High salaries for investment execs at pension funds may get close review 

Palestine Mayor Steve Presley says his city loses $900,000 per year on online sales.

What type of legislative change would be necessary for cities in texas to tax online sales?

• the collectiona nd distribtution of local sales taxes

The impact to consumers? An increase in costs for consumers

What does Mayor Presley want the online sales tax to fund? “street repairs and improvements, police officers and firefighters, equipment and vehicles”

Palestine Herald Press | Texas cities lobby for local online sales taxes 

Washington State voters in November will consider a ban on local grocery and soda taxes.

Who is supporting the measure in Washington State?

• Teamsters supporting working class families
• Yes! to Affordable Groceries!,

How far reaching will the ban be? The ban will apply to any taxes, fees or assessments  on:

•  meat
• poultry
• fish
• fruits
• vegetables
• grains
• bread
• milk
• cheese and other dairy products
• nonalcoholic beverages
• condiments
• spices
• cereals
• seasonings
• eggs

Herald Net | Ballot measure would ban local taxes on groceries and soda

Add Pennsylvania to the list of states considering banning local soda taxes.

HB 2241 (2018 | PA)

Philly Voice | Pennsylvania lawmaker introduces bill to invalidate Philly soda tax

Philadelphia Inquirer | California banned new soda taxes. Could it happen in Pennsylvania?

The Louisiana Legislature in 2018 eliminated its school sales tax holiday.

Louisiana established its tax holiday for back to school in 2007.

KEEL 101.7 FM | LOUISIANA WILL NOT HAVE BACK TO SCHOOL SALES TAX HOLIDAY THIS YEAR

State: Arizona

The school funding mechanism:  The Invest in Education Act, initiative and referendum on the Novmeber ballot

The revenue source would be increases to Arizona’s income tax by:

• raising the rate from 4.5%to 8%for individuals making at least $250,000 and for families earning at least $500,000
• raising to 9% the tax rate for individuals making at least $500,000 and families making at least $1 million

The public education funding recipient: teacher pay raises & restoring full day kindergarten

12news | Education activists say Arizona is ripe for Invest in Education Act

Governing | The Week in Public Finance: The Red State That’s Considering a ‘Millionaire’s Tax’

The pension fund: Japan’s Government Pension Investment Fund

Background:The Fund has had 6 quarters of gains

What investments are touted for the 6.9% annual return for Japan’s Government Investment Fund?

• doubled stock holdings, majority of its stock investments in strategies that track indexes
  • 25% in domestic stocks
  • 25% overseas stocks
• cut bonds 
• Alternative assets accounted for 0.13% of holdings

The National | Japan’s pension fund posts best returns in three years 

Portland Oregon enacted 2 new fees on short term rentals:

• 2% fee on hosts who use booking agents to advertise or accept reservations
• $4-per-night fee assessed on booking agents and transient lodging intermediaries “for the privilege of facilitating a short-term rental occupancy.”

VRm Intel | Portland city council votes to collect new fees from short-term rentals. 

New Jersey Leegislators are using a short term rental tax as abargaining chip with a Governor opposed to short term rental taxes. 

Estimated annual revenue from the short term rental revenue in New Jersey: $250 million 

How New Jersey Would tax Short Term rentals:

•  expand sales tax
• apply the state’s  6.625% sales tax to r entals of fewer than 90 days would be taxed

NJ.com | Tax on shore rentals? I don’t like it, Phil Murphy says of Dem leaders’ key budget offer.

Politico | New Jersey Playbook | SWEENEY makes shore home tax counter-offer

• Kentucky Attorney Gnereal determiend that personal devices are excepted from open records laws
• Florida has 1,100 exemptions to its open records laws
• Iowa, Massachusetts and Oklahoma except legislative documents
• Charlotte County, FL lowered th enumber of requests by charging $50 for every request

Governing | See Public Records? Governments Are Making It Harder. 

State: California 

The legislation to prohibit soda/sugar taxes: AB 1838 (2018 | CA) 

The compromise: A sunset provision. Prohibiting cities from passing sugar taxes would expire in 2031.

What was the incentive to compromise? Beverage industry & the Business Roundtable had enough signatures for a ballot initiative that would have prohibited  tax increases without a 2/3 vote

Los Angeles Times | California Legislature nears deal to temporarily ban soda taxes

Sacramento Bee | California bans local soda taxes through 2030 to avert industry-backed initiative

What’s happening?  College and professional sports persons will argue in Indiana Supreme Court that consent must be obtained to use an athlete’s name and or likeness in Daly Fantasy Sports

Why does this matter? The practical issue is whether athletes should be paid to use their name.

IndyStar | FanDuel, DraftKings under microscope in state Supreme Court case being watched nationally

UK pension systems will require pension trustees to assess the social and environmental factors.

Why does this matter in the US? Social & Environmental Investing is on trend according to International Banker  analysis and money managers are moving in that direction.

Out-law.com | Pension trustees to be given powers encouraging investment in environmental and social schemes

• The US Supreme Court Ruling allows states to apply a sales tax to retailers with no physical presence in the state
• Texas Comptroller estiamtes the loss of sales tax revenue to out of state retailers is $1.1 Billion annually
• Implementation will be a logistically challenging as sales tax rates and application vary greatly by state and locale 

Go San Angelo | Texas could gain hundreds of millions after Supreme Court rules on taxing online purchases 

Governing | The Week In Public Finance: Supreme Court Clears Way for States to Tax Online Sales

The revenue outlook in Pennsylvania for Daily Fantasy Sports v. Sports Betting:

• Daily Fantasy Sports monthly revenue to the state is roughly $200,000 per month
• Sports Betting would have a taxable rate of 41% 
  • estimates are $310 million annually from online sports betting
  • first year revenue estimate is $150 – $200 million 

Penn Bets | THE FIRST FANTASY SPORTS REVENUE DRIBBLES INTO PENNSYLVANIA’S STATE COFFERS

Pennsylvania’s first revenue reports from regulating fantasy sports show:

• first month of operation: $199,756 paid to the state
• Market dominated by the 2 major players
  • 50.5% market share for FanDuel
  • 47.5% market share for DraftKings
• the industry took in $12,430,588 in total fees from Pennsylvanian participants

Penn Bets | THE FIRST FANTASY SPORTS REVENUE DRIBBLES INTO PENNSYLVANIA’S STATE COFFERS

Florida Court of Appeals upheld Jacksonville Florida’s 2016 half-cent sales-tax surcharge to shore up its police pension system.

News 4 JAX | Court upholds Jacksonville pension half-cent sales tax

Refreshing our recollection: informed:intel February 28, 2017

Pension TREND. Sunshine State City Pension Deal with Police.

Jacksonville, Florida and its law enforcement officers are reaching a deal to solve its pension $2.7 billion liability crisis. 

Here’s how the Jacksonville and police officer penion deal is shaking out:

• Voters approved a 1/2 cent sales tax increasre to go into effect in 2030
• The sales tax increase is triggered if andf only if officers agree to a fix
• 65% of law enforcement officers voted to approve 401Ks for new hires
  • 82% of captains and lieutenants approved the 401Ks for new hires
• The 401K deal comes with a 3%  bonus and a 20% across the board pay increase 
• The 401K deal also includes a return of all cut benefits during the 2000 financial downturn
• The 401K deal includes a 25% contribution by the city
• Contribution rates of current pensions will increase from 8% to 10%
• The final step will be approval by rank and file officers in March

News 4 JAX | FOP membership approves mayor’s pension deal

State: Idaho

Idaho’s Tax Exemption from local property tax on production equipment for:  hop growers & producers

The legislation: House Bill 594​ (2018 | ID) that ensure sthe agricultural equipment exemption from property tax includes hops equipment

 Why HB 594? Some local communities wanted toi apply property taxes to hops dryers and other equipment 

What’s happening with rule making?  Fine tuning definitions of agricultural production, raw product and sellable good

Idaho Capital Ag Press | Idaho tax commission weighs hops equipment exemption 

• head taxes
  • based on the number of workers on a company’s payroll
  • Denver has one
• parcel taxes
  • flat tax on every landowner
  • San Francisco  & Manhattan each both enacted the tax in June 2018
• sugar taxes
• marijuana taxes
  • Colorado collected $250 million in taxes and fees on weed
• developer taxes
  • Philadelphia is considering a new tax on real estate developers
• tourist taxes
  • includes restaurants, hotels, and short-term rentals
• sports betting taxes

Forbes | From Head Taxes To Parcel Taxes, Cities And States Are Looking For New Ways To Raise Revenue

• “integrity fees”
  • supported by MLB and the NBA
  • Up to 1%of all bets placed on games
  • to pay for  policing against game-fixing
  • model legislation 
• leagues want:
  • veto over which types of bets could be allowed
  • control over scores, player statistics and other data used by sportsbooks
• Other Stakeholders:
  • gambling industry
  • college athletic programs
  • players’ unions
  • service providers for gambling addicts
• Where to racetracks fall on the issue?
  • Ingtegrity fees take the “lion’s share” of profits from sports betting

Governing | NBA and MLB Quietly Hustle States for Cut of Sports Betting Jackpot

An IBM led coalition of 400 businesses is urging Congress to support workforce development funds.

The coaltion letter

The Hill | IBM-led coalition pushes senators for action on better tech skills training 

A month after unanimously passing the head tax in Seattle, this week Seattle City Council voted 7-2 to repeal the tax.

A council member said that her vote to repeal was “counter to my values as a person.”

Texas Public Radio | Seattle Repeals Tax On Big Business After Opposition From Amazon, Starbucks

Refreshing our recollection on the employer head tax:

Seattle this week passed  its “Amazon Tax” which taxes large employers per employee to fund housing crisis. 

Which cities are next?

• An Apple Tax in Cupertino or Austin?
• A Google tax in Mountain View?
• A Tesla tax in Reno?

Which cities already have a head tax for large employers?

• San Jose CA
• Sunnyvale CA
• Redwood City CA

CNN | Will these California cities impose a ‘Google tax’ or an ‘Apple tax’?

Tax Foundation | Business Head Taxes Take Aim at Having “Too Many Good Jobs”

An Atlanta news station asked for public records related to Atlanta’s ransomware attack.

The city repsonse:  No. Not going to happen.

Why is the city denying the open records request? ongoing investigation, ongoing security concerns

What do freedom of information experts say? The Freedom of Information Act does allow for exemptions during open investigations

CBS 46 | Atlanta officials deny requests for records amid cyber attack

City that passed a proposition for a parcel tax to fund higher teacher salaries: San Francisco

What rate is the parcel tax?  annual $298 parcel tax to fund higher teacher salaries

What’s the parcel tax background?

• Idea came from a teacher union
• Estimated to generate $50 million a year
• Will boost teacher pay, add staffing at high-needs schools &  improve technology

SF Gate | San Francisco passes ban on flavored tobacco; education parcel tax wins 

Seattle this week passed  its “Amazon Tax” which taxes large employers per employee to fund housing crisis. 

Which cities are next?

• An Apple Tax in Cupertino or Austin?
• A Google tax in Mountain View?
• A Tesla tax in Reno?

Which cities already have a head tax for large employers?

• San Jose CA
• Sunnyvale CA
• Redwood City CA

CNN | Will these California cities impose a ‘Google tax’ or an ‘Apple tax’?

Tax Foundation | Business Head Taxes Take Aim at Having “Too Many Good Jobs”

Iowa Legislature passed the largest tax cut in state history.

Iowa’s Governor said the following 6 points about the tax cut:

• immediate and significant tax relief
•  It’s simple
• It’s transparent
• It’s fair for Main Street
• Most importantly, it’s sustainable for our state budget
• fiscally responsible for the long-term … ensuring that we can fund our key priorities like education, health care and public safety,” she said.

What is the tax cut? An income tax cut

Where is the tax/revenue increase?

• sales tax for:
  • online shopping
  • digital purchases
  • electronic games and entertainment
  • travel sites
  • subscription services
  • ride-hailing services like Uber and Lyft

SF 2417 (2018 | IA)

 Governing | Iowa Governor Signs Largest Tax Cut in State’s History

The cities that have banned plastic straws:

• New York City, Hawaii, and California have pending straw ban legislation.
• California: Alameda, Carmel, San Luis Obispo, Davis, Malibu, Manhattan Beach, Oakland, Richmond, and Berkeley
• Washington: Seattle and Edmonds
• New Jersey: Monmouth Beach
• Florida: Miami Beach and Fort Myers
• Vancouver, BC
• Scotland
• Taiwan
• Prime Minister Theresa May announced a Britain-wide ban on the sale of plastic straws, stirrers, and plastic cotton swabs

The businesses that banned with plastic straws:

• Alaska Airlines
• Bon Appétit in all 1,000 of its cafes across 33 states, including locations like AT&T Park, home of the San Francisco Giants, the Art Institute of Chicago, the Getty Museum, Vassar College, Washington University in St. Louis, and the University of Portland in Oregon
• Queen Elizabeth II banned plastic straws and bottles from all royal estates,  cafes, and gift shops
• Waitrose, London City Airport, McDonalds UK, and Costa Coffee
• Ryanair aims to be “plastic free” by 2023
• Marriott is implementing a straw ban at all 60 UK properties

Fast Company | Here are the U.S. cities that have banned plastic straws so far

State: Tennessee

The Bill: SB 1877 (2018 | TN ) 

What do local law enforcement have to disclose?

• requires comptroller to audit use of civil asset forfeiture proceeds by local law enforcement
• requires law enforceent to publish uses of forfeiture proceeds by department, including:
  • overtime
  • travel
  • equipment
  • court costs
  • community programs
  • other expenses
• the law enforcement disclsoures myst be on department’s website along with the audit 

Portland, WA is using a shared values approach to economic development. 

Shared Values means:

• inclusive entrepreneurship programs
• identification of career ladder opportunities for underrepresented populations
• diversity goals around hiring and training underrepresented populations

What does this mean for businesses that receive economic development funds? Companies find business opportunities in solving social problems

Brookings Institute | Evolving tax incentives: A shared value approach to economic development in Portland 

What group is offering guidance on taxation of cryptocurrency? American Institute of Certified Public Accountants,

To which taxing authority did the American Institute of Certified Public Accountants, submit their guidance? IRS

What 3 pieces of guidance did the accountant group offer?

• the IRS hasn’t released guidance and its needed
• more and more taxpayers are engaging in cryptocurrency transactions and the transaction tracking gthrough documentation is a headache to track capital gains and losses
• set a reasonable manner for decalring fair market value determinations

What areas of crytocurrency taxation regulation do they seek clarification?

• gain and loss reporting
• expenses related to cryptocurrency mining, chain splits, air drops

Forbes | CPA Group Presses IRS For Clarity On Crypto Taxation 

State: North Carolina

Fantasy Sport Regulation Bill:  HB279 (2017-2018 | NC)

What legislative moves happened after the US Supreme Court ruling legalizing sports betting?

• North Carolina House re-referred the bill from its substative committee, Finance, because the committee would act to remove the language that daily fantasy sports is not gambling
• HB 279 was then re-referred to the Judiciary Committee
• The author of HB 279 is stressing to the Judiciary Committee that Daily Fantasy Sports is not legalizing sports betting

How is the author of HB 279 responding to claims that Daily fantasy Sports is sports betting?

• “This just addresses the reality in this state,” Saine said. “Without it, it’s the wild, wild West.”

WRAL | Fantasy sports bill proves nightmarish for sponsors

Arizona Senate Bill 1091 was vetoed by its Governor.

Senate Bill 1091 would have permitted tax payments to be made in cyrptocurrency.

Why was it vetoed? Concerns over impacts on private industry.

Veto Letter from Arizona Governor Ducey on SB 1091

Requestor: Chambers County

Which county departments would it like to fund with sales and use tax revenue?

The Report is by: Texas Public Policy Foundation

The Report:  THE HOTEL OCCUPANCY TAX IN TEXAS

The issues it has with the hotel motel tax in Texas?

• the combined, state & local, rates are 15-17.5%
• discourages tourism
• “siphons” money from local businesses 
• no accountability that the tax funds projects that increase tourism

The solutions:

• require reporting from organizations that receive hotel motel revenue
• link the reporting requirements to renewal of hotel motel funds for the recipient organizations
• if there is no return on invesgtment from hotel and motel funds, eliminate the grants
• cut or eliminate the hotel motel tax (limited government. low taxes)

city: Portland

proposed short term rental fee: $4 per night for guests + 2% fee for property owners

revenue projections from proposed short term rental fees & tax:  $2.5 million to the city’s housing budget

KGW 8 | Portland’s Mayor wants to tax Airbnb, its competitors & hosts

Where: Seattle

What is a head tax in Seattle?  A $275 tax per employee for businesses like Amazon, Starbucks & Google that gross over $20 million a year

What will the tax fund? Programs to eliminate homelessness

Governing | Will Seattle’s Controversial Tax on Big Businesses Stunt Its Economy?

County: Seminole County, FL

The reasons Seminole County is accepting cryptocurrency:

• eliminates credit card processing fees
• improves payment accuracy
• improves payment transparency
• improves payment efficiency

Is there a procurement opportunity here? yes, Seminole County contracted with BitPay

The Seminole County Press Release May 2018

Credit Rating Agency: S&P Global Ratings

Credit Rating Reduction: to  A from A+

Statement on Credit Rating Reduction: 

•  “increased budgetary strain from rising costs associated with pension obligations,”
• “uneven budgetary management that has relied on expenditure cuts and weakened reserve levels during a period of economic expansion,”
•  high level of fixed costs for its pension obligations and Medicaid are likely to remain such, further pressuring future budgets.”

State:  Kentucky

Pension Libaility: total unfunded liabilities at $64 billion 

Pensions & Investments | Kentucky’s pension obligations contribute to S&P credit rating downgrade

CALPERs is joining these 2 pension systms in seeking greater internal control over their investments:

• Texas Teacher Retirement System
• California Teacher Retirement System

What 3 Steps will CALPERS take to control investments?

• create multibillion-dollar funds to buy & hold private companies in the long term
• become the sole backer of funding vehicles for startups 
• as much as $20 billion in new venture-capital in unlisted companies within 10 years

3 Benefits touted of moving investments to internally controlled holdings:

• Less fees paid out
• Greater chances of meeting benchmarks than current private equity investments
• Greater control

Wallstreet Journal | Calpers Considers Following Buffett’s Way

Where: Houston, TX

Why were the economic develpoment rules revised? An audit by the City Controller in March 2018

What did the controller audit reveal? need for more documentation, more procedures, more monitoring is needed

What changes were approved by city council in May 2018? 

• good faith effort for 25% of new jobs are for low income communities

AP | Houston to Require Firms to Give More to Get Tax Breaks

City Attorney: Corpus Christi

Corpus Christi City Attorney opinion on whether Texas cities can impose a soda tax? No. No legislative authority for a local soda tax.

KRISTV.COM | Fact Check: Can Corpus Christi impose a “soda tax”?

State: Indiana

The stand alone Educational Savings Account Bill:  Would epxands 529 college savings plans to K-12 education. HB 1039 (2018 | IN)

The amendment to a tax bill: 

• HB 1316 (2018 Special Session 1 | IN )
• A omnibus tax bill 
• In a special session
• To get around the failed regular session bill
• The key text:
  • Defines qualified K-12 education expenses”
  • Tying the definition to 529 accounts

WBAA | Lawmakers Revive College Savings Plan Expansion In Key Tax Bill

The locality with a soda tax: Seattle

The Seattle soda tax: 1.75 cents per ounce tax on sugary beverages, syrups and concentrates

The revenue estimate:  $3.7 million per quarter

The actual revenue recieved:  For 2018 first qaurter, $4,082,015

Governing | Seattle Soda Tax Revenue Is Exceeding Projections. 

5: Number of states with statutes permitting sports betting in 2018

• Connecticut
• Mississippi
• New York
• Pennsylvania
• West Virginia

4: Number of States with statutes that permitted sports before 2018

• Delaware
• Montana
• Nevada
• Oregon

Moody’s Investors Service report: sports betting in Nevada is 2% of its gambling revenue

Governing | How the Sports Betting Ruling Will Impact State Budgets

May 2018 Local Bond Election:

• Approved: 62
• Defeated: 29 

May 2017 Local Bond Election:

• Approved: 69
• Defeated:  28

May 2016 Local Bond Election:

• Approved:  82
• Defeated: 26

• Washington
  • 4.4% growth
  • e-commerce
  • telecommunications
  • software
• Colorado
  • 3.6% growth
  • oil and gas
  • real estate
• Nevada
  • 3.5% growth
  • real estate
  • durable goods manufacturing
  • tourism
• Arizona
  • 3.2%
  • health care
  • retail
• Utah
  • 3.1%
  • professional, scientific and technical services
  • technology
• California
  • 3.0%
• Georgia
  • 2.7%
• Idaho
  • 2.7%
• Massachusettes
  • 2.6%
• Texas
  • 2.6%

Bureau of Economic Analysis

Governing | States With the Top GDP Growth

What was the projected revenue from the California marijuana tax for 2018, January to March? 

 $175 Million

What was the actual tax revenue from the marijuana tax for January to March 2018?

 $34 Million

Sacramento Bee | California’s marijuana tax collections lag below expectations

State: Alaska

The Legislation: Senate Bill 26 (2018 | AK) 

What revenue funds Alaska’s Permanent Fund?  The  40-year-old investment fund seeded with oil revenue

What does SB 26 do? Establishes a  5.25% cap on annual withdrawals from the fund

What policy statements are being made by legislators?

• State needs to balance its budget
• Need to address the state’s deficit

Anchorage Daily News | Alaska Legislature changes the way the Permanent Fund is managed

Anatomy of St. Louis’ lost love for stadiums. What impacted the city’s lost enthusiasm for stadiums?

• Bitterness. Departures of professional teams did not encourage enthusiasm
• Contracts. St. Louis’ stadium contract kepot the city on the hook for the costs of keeping the stadium in the top 25 of the nation.
  • Improvement costs exceeded the cost of building a new stadium
• Populism.  Cities “see team owners benefiting from luxury suites and other high-price add-ons that increase the team’s valuation and put more money in owners’ pockets.”
• Economics. The economic benefits of professional sports teams has been discredited 
• Local Revenues. Tight city budgets

Governing | How Cities Fell Out of Love With Sports Stadiums

7 Ways that Pension systems in California directly impacted WallStreet:

CALPERS, The California Public Employees’ Retirement System, has:

• Led the campaign to unseat the head of the New York Stock Exchange because of his “runaway” compensation
• Led the charge against Disney Chairman Michael Eisner’s governance problems
• Directly resulted in 3 board resignations/removals due to governance failures at JPMorgan Chase & Co
• Fought a 3 year abattle to give Apple shareholders input in board elections
• IN 2014 it began divestment from Hedge Funds

Los Angeles County Employees’ Retirement Assn. fought successfully to:

• “destagger” many corporate board to improve baord accountability so that more than 1/3 of board seats were at risk at one time

University of California Regents and the San Francisco Employees’ Retirement System in 2003 brought fraud charges against Enron.

Where do California’s pensions find their strength? With a Size that “dwarfs” Texas & Claifornia pensions’ stock holdings are collectively & centrally managed.
 

Los Angeles Times | California’s most powerful voice on Wall Street? Its pensions

• Texas #1
  • Location, location, location, especially DFW
  • Access to Mexico and NAFTA trade
• Florida #2
  • Orlando’s advanced manufacturing & access to qualified engineers
• Indiana #5
  • low corporate income tax
  • reasonable regulations
  • right to work,
  • global-caliber talent
  • growing workforce
  • affordable costs
• Colorado #8
  • living environment
  • health innovation ecosystem (healthtech)
• Alabama #17 
  • ever-expanding cast of automaker and suppliers
  • aerospace manufacturing
  • low cost of living

Chief Executive | Five States To Watch: Texas, Florida, Indiana, Colorado And Alabama

A new study is said to conclude that fantasy sports is a game of skill.

The authors:  by Kansas State Professor Todd Easton and co-author Sarah Newell

Publication: Journal of Sports Science

A supporting argument for the conclusion: unskilled players never win

Casino.org | Academic Study Rates Daily Fantasy Sports as Skill, Not Gambling

Calvin Ayre.com | Study finds daily fantasy sports requires skill

State: Alaska

The bill: SB 97 (AK | 2018)

What limits does Alaska’s Senate Bill 97 put on pension bonds?

• Reduces from $5 billion to $1.5 billion the amount of onds the state can sell to reduce pension liability
• In Alaska, the Legislature must approve the pension deficit bonds

Was this a compromise bill?  yes, some wanted NO pension bonds

Alaska Public Media | Legislature limits bonds for pensions, but keeps them as potential tool 

Some states with statewide transportation network (ride share) laws permit cities to impose taxes because:

• cities face the cost of street maintenance from ride share
• cities face the cost of ride share vehicle traffic
• cities face the cost of registering ride share drivers

3 Ways Cities are utilizing ride share tax revenues:

• Chicago is fixing its subways
• New York City also wants to put ride share tax revenue to subway improvements
• Philadelphia is using it for its public schools

Rivard Report | Texas Cities Losing Out on Tax Revenue from Sharing Economy

Which economic development project? Denton Enterprise Airport

What details were subject to release? That a code named economic develpoment project concerned Amazon Air

Why was Amazon Air disclosed as the code name proejct? A ruling on an Open Records request by the Texas Attorney General said the company’s name isn’t protectable under Open Records Laws

What do we know about Amazon Air?

• 40 cargo planes
• 1/2 of the cargo planes are based at its freight delivery service hub at Cincinnati/Northern Kentucky Regional Airport
• operates at 15 other airports around the country, including 3 Texas airpoorts:
  • DFW International Airport
  • George Bush Intercontinental Airport
  • Lackland Air Force Base

What was the impetus for the open records request?

• precedent
• establishing that not every business prospect is confidential

Dallas Morning News | Open records request forces Denton to reveal Amazon Air’s interest in airport

The American Hotel and Lodging Association is calling for ” consistency and a level playing field” as to taxation. In this brouhaha, each side is saying these things:

The American Hotel and Lodging Association says:

• Airbnb is strong-arming local governments in secret meetings
• Airbnb is getting favorable tax deals
• unfair to hotels and motels and to the public

Airbnb says:

• multiple websites post the voluntary tax agreements with local governments
• these voluntary agreements allow for the collection of tax revenue that the law in the jurisdiction may not allow the collection of
• Airbnb has paid 1/2 a billion in taxes through these agreements and the Hotel Lodging Assocition is chaning its tune and still complaining

Texas Public Radio | Hotel Association Attacks Airbnb On ‘Secret Tax Deals’

State: Colorado

The bill: Colorado’s HB18-1070 (2018) 

How Colorado’s HB18-1070 funds schools with revenue from marijuana:

• Dedicates  $35 million+ per year to grants for school construction projects
• The bill is a correction to overly conservative school construction program set asides when the marijuana tax was passed

The Daily Sentinel | Bill gives pot money to schools

The Texas Baptist Christian Life Commission is pointing to Oklahoma, Pennsylvania & Illinois as failures for using gmabling revenue to help public education.

The reasons suggested to oppose gambling revenue to fund public education:

• Gambling revenue is unreliable, ineffective
•  Increases in crime, addiction, domestic violence and suicide
• Texas history is to pass gambling initiatives to supplement public education revenue, but in actuality the gmabling revenue replaces other state funds with no net benefit to public education

Baptist Standard | Voices: Gambling expansion won’t solve education emergency in Texas

Court: Indiana Supreme Court

The certified question from the 7th Circuit Court of Appeals before the Indiana Supreme Court:  Whether online fantasy-sports operators that condition entry on payment, and distribute cash prizes, need the consent of players whose names, pictures, and statistics are used in the contests, in advertising the contests, or both.

What does this mean for regualtors and legislators? Some say that Daily fantasy Sports operators, companies which are partially owned by certain sports leagues,  “are simultaneously making legal arguments in the ongoing court case that may run counter to the specific lobbying points being made by their part-owners.”

State: Minnesota

The Fantasy Sports Legalization Bill: 

the Vote: 48-74.

• Two years ago the vote was 100+ in favor
• The 48 ayes: 37 Republicans
• The 74 nayes: About 50/50 Republican/Democrat

3 reasons why the vote failed?

• fantasy sports regulatory problems in other states
• fantasy sports lawsuits
• insufficient regualtory structure: 

  “The corruption and fraud accusations for this industry are everywhere and we are not sufficiently providing protection to Minnesotans who choose to bet on daily sports gambling entities,” Rep. Jim Davnie said.

  Fox 9 | Bill to legalize fantasy sports gambling fails in Minnesota House

Minnesota Pulic Radio | Fantasy sports bill meets ugly reality of defeat

$1.4 Trillion is the total funding deficit for U.S. state public pension systems.

What’ the $1.4 trillion background?

• Based on 2016 pension data
• Represents an increase of $300 Billion from 2015
• The deficit is the diffrence of $2.6 trillion in assets &  total pension liabilities of $4 trillion
• The increase also reflects a shift down in  the assumed rate of investment returns by state pension systems

Reuters | U.S. state pension funding gap rises to $1.4 trillion in 2016: Pew 

Louisiana is considering legalizing sports gambling, with a favorbale ruling from the US Supreme Court in 2018.

Lousiana’s SB 266 would require 3 steps to legalize sports betting at any location that currently has gambling operations:

(1) US Supreme Court favorble ruling in the New Jersey sports betting case

(2) The Lousiana bill has be enacted

(3) Local Voters must approve allowing sports betting at any parish location that currently permits gambling

The Legislative impetus:

• revenue
• “We need to legalize it, regulate it, tax it,” said Rep. Kirk Talbot, R-River Ridge, who sponsored the fantasy sports bill. 

Times Picayune | Louisiana considers sports gambling, but there are no proposals on how to tax it yet

Harvard Kennedy School’s Government Performance Lab has produced new book, the new Results-Driven Contracting Solutions Book. 

The book offers 8 startegies for local government contracting. Here’s where to begin:

• COMMUNICATE. Clearly lay out  goals and/or problems to be solved
• WORK WITH AND NOT AGAINST YOUR CONTRACTORS. Design the procurement to align contractor interests with achieving those goals.
• NO HELICOPTER PARENTING BY CITIES PLEASE. Provide direction without being overly prescriptive.
• ENCOURAGE COMPETITION. Engage the marketplace to understand vendor capabilities and leverage competition.
• CONTRACT MANAGEMENT. Track progress toward contract goals.
• INCENTIVIZE. Consider tying payment to performance.
• LEARN FROM YOUR CONTRACTING EXPERIENCES.  Use performance data to make future procurement decisions and manage ongoing contracts.
• THINK BROADLY. Strategically manage all key procurements and contracts.

Why is Texas Economist Ray Perryman responding to whether or not Dallas Ft. Worth receives a disproprotionate share of economic development funds?

• Speaker Straus concerned about enterprise fund overseen by Gov. Abbott
• Gov. Abbott answers Speaker Straus concerns over enterprise fund

3 Repsonses concerning whether Dallas-Ft. Worth gets a disproportionate share of Texas economic development funds? 

• Economic development funds are “certainly essential” but not the only, nor the most important criteria
• Companies also look to Workforce, infrastructure, geographic location, proximity to customers and suppliers, access to raw materials
• Dallas is a dynamic location as an airport hub with access to rail and a transportation network

Rio Grande Guardian | Perryman: Incentive Issues. 

Who: The Tennessee House 

What: The Tennessee House revoked $250,000 in Funding

Where: The revocation hits Memphis, which had removed Confederate statues, and directly impacts Memphis’ bicentennial celebration

How? Memphis is alleged to have acted against the State Historical Commission by moving possession of  two public parks to a nonprofit

The Tennessean | House punishes Memphis for removing Confederate statues with $250,000 budget cut

State: Pennsylvania

An Opinion piece by Americans for Prosperity offers 3 reasons to support ESAs:

• If we can choose the right sports for our kids, we should be able to choose the right school
• nearly 1/2 of PA schools are not meeting adequacy levels in testing standards
• “Low-income children suffer disproportionately”
• more than 2/3 of Americans support ESAs
• Just look at the popularity of charter schools, ESAs could be the next educational success like charter schools are

Philadelphia Inquirer | Education savings accounts will help more Pa. children attend the best schools for them | Opinion 

The states the MLB and NBA are courting for model sports betting legislation, should the US Supreme Court overturn the sports betting prohibition:

• Indiana SB 405 (2018) 
• Illinois SB 2478 (2018)
• Iowa H592 (2018)
• Missouri HB 2320 (2018) 
• Kansas HB2533 (2018)
• Rhode Island Governor added sports betting regulation to her budget proposal
• West Virginia SB415 (2018)

What do the leagues want?

• Fees. In an Iowa proposal the fee is labeled an integrity fee of 1% and would be paid to sports leagues, depending on how much money is wagered in the state
• Messaging. Its not revenue. Repeat, not revenue. it’s a handling fee.
• Big Picture. If all states enacted sports betting, it is estimated that handling fees for the Leagues would be $2 billion.

Leagues Could Make Billions If States Implement Sports Betting ‘Integrity Fees’

Records Show MLB, NBA Now Lobbying On Sports Betting In Nearly A Dozen States

Conservatives in the Missouri Legislature are pursuing HB 2168 (2018)  that will cap local sales taxes at 12%, as the cumulative sales tax rate.

How will this impact Missouri cities?

• Missouri cities see 25% of their revenues from sales tax
• Kansas City Missouri ara enclaves already have sales tax rates at 12%

KCUR | Missouri Lawmakers Trying To Limit Local Sales Tax, Kansas City Fights Back

The Opinion Request:  RQ – 0221- KP (2018) 

Requestor: Dan Flynn

Question for the Attorney General to Answer: Would life insurance funded by leveraged premiums, specifically Index Universal Life optimized for cash accumulation, constitute a prudent investment pursuant to Texas Constitution, Article 16, Section 67? 

Why is this even a question to answer? The Constitution calls for prudent investment in securities while a Index Universal Life is a fixed investment.

State: New Jersey

Opponents to taxes on ride share and short term rentals have labeled the taxes: Millennial taxes

Which taxes are being put under the “Millenial Tax” umbrella? 

• ride share taxes
• short term rental taxes
• e-cigarette taxes

Why do opponents say “millenial taxes” are bad for New Jersey?

• Millenials will move away
• New Jersey’s economic future is at risk
• The number of New Jersey people between 22 to 34 is down 2.3% from 2000 to 2013
• Taxes hurt property owners and second jobs

New Jersey 101.5 | GOV. MURPHY’S ‘MILLENNIAL TAXES’ WILL CAUSE EXODUS, GOP ARGUES

Where: Virginia

What’s impacting Virginia’s AAA bond rating? The Virginia Secretary of Finance says the state will need savings from Medicaid expansion to maintain its AAA bond rating

Why would Medicaid Expansion be tied to AAA bond ratings?

• S&P Global ratings says a legislagive deadlock over Medicaid expansion would not impact bond rating
• The Virginia Secretary of Finance says Medicaid expansion will improve the state’s financial reserves and thus protect Virginia’s AAA rating
• S&P Global: “Virginia’s structural imbalance and low reserve levels are out of step with ‘AAA’ rated peers”

Richmond Times Dispatch | Virginia finance secretary doubts state can protect bond rating without Medicaid expansion

Colorado is considering SB18-200 to curb unfunded pension liabilities by:

• increases employee and employer contributions
  • total contribution would be 11% of members’ salaries each month
• reduces cost-of-living adjustments
• raises the retirement age for new employees to 65/40 years of service
• 30 year timeline to eliminate unfunded liability

Chief Investment Officer | Colorado Senate Passes Pension Reform Bill

California Chamber of Commerce maintains a website, CA Job Killers, of the bills it opposes for killing jobs.

On the list currently:

State: Tennessee

What steps is the Tennessee Department of Economic and Community Development​ doing to aid rural hospitals?

• dispatching restructuring specialists
• Supporting SB 2646 the Rural Hospital Transformation Act
• Support state economic development funding for the project of $1 million

What is the economic development rational for bolstering rural hospitals?

• rural hospitals are often the largest employer in an area
• without hospitals, businesses cannot be recruited to locate in rural areas

How deos TN rank in rural hospital closures since 2012? TN is #2 and TX is #1 in the number of rural hospital closures

Nashville Public Radio | Tennessee Economic Development Officials Offer To Help Rescue Rural Hospitals

State: New Hampshire

What are Educational Savings Account supports saying supporting constitutionality? The US Supreme Court’s ruling in Trinity Lutheran Church v. Comer

5 Reasons ESAs opponents say ESAs are unconstitutional:

• Trinity Lutheran Church v. Comer is not about ESAs; its about a state grant program funding a playground at a church
• Since 1784, New Hamshire’s Constitution has prohibited funding religious schools
• 1992 NH’s Supreme Court prohibited a diversion of funds supporting activities of religious educational institutions
• In 1981, the State Supreme Court ruled that the state cannot circumvent prohibitions of the state constitution by “do(ing) indirectly that which it cannot do directly”
• “laundering” state funds is not good public policy

Concord Monitor | State Reps. Mel Myler and David Luneau: School voucher bill is unconstitutional – and wrong

The National Bureau of Economic Research study, The Taxation of Recreational Marijuana: Evidence from Washington State, walks through the types of marijuana taxation in the US:

• Cultivation Tax which taxes cultivators
• Excise/Sales Tax which taxes the consumer
• Gross Receipts Tax which taxes retailers and processors

A potentially distortionary tax impact of the cultivation tax is thagt the tax has encouraged cultivators in California to grow more potent marijuana rather than a less potent marijuana that may be sold at retail for less.

3 States tax the cultivation of marijuana: Alaska, California, and Colorado

Proponent of More Internal Investments: Texas TRS Cheif Investment Officer Jerry Albright

The proposal will cut how much in external investment fees? $600 Million annually

How many new financial hires will this mean at TRS? 270 new employees

In comparison how much internal investment does CALPERS do?  70 % of its assets are handled internally

What 3 things does the National Association of State Retirement Administrators say the TRS proposal needs?

• competitive pay for the investment hires at TRS
• political autonomy
• governance structure

Bloomberg | Texas Teachers Pension Eyes Hiring Spree for Investment Group

State: Alabama

Legislation:  SB311 (2018) which would create a funding structure for an open air stadium in 

What’s the stadium funding structure?

• The stadium will be for University of Alabama Birmingham and other non-university events
• It will be funded by a 3% car rental tax

What do supporters say?

• it will revitalize north Birmingham

What do opponents say?

• it will harm the city of Birmingham because all the revenue will go to Birmingham-Jefferson Convention Complex

The Accounting Rule that requires local governmental entities to report revenue losses from tax abatement agreements:  Governmental Accounting Standards Board (GASB) Statement 77

What Does GASB 77 require: local governments must report their annual lost revenue due to tax abatement agreements

Is there a loophole? Yes, local governments can decide if the annual lost revenue is “material” 

What’s an example of a revenue loss from an abatement? Austinm NV reported a $4 loss from a state renewable energy program

Governing | Despite New Rules to Disclose Corporate Tax Breaks, Just Half of Local Governments Are 

Arizona Governor Ducey signed HB2484 (2018) that prohibit slocal soda taxes by:

• eliminating a local tax on food and beverage exemption that permitted local taxation
• adds a “municipal transaction privilege tax”
• The “municipal transaction privilege tax” requires uniform taxation on all food and beverage products.

Supporters of the bill:

• Republican author
• Arizona Food Marketing Alliance stressed “it’s not government’s role to use taxes to influence consumer behavior”
• A supermarket industry lobbyist industry made clear the bill is about soda taxes

Arizona Daily Sun | Ducey signs bill barring cities from taxing sugary drinks

State: Alabama

What do I need to know about the politics behind the bill?

• Filed by a Republican, Chair of the County and Municipal Government Committee
• In 2016, Alabama Attorney General Luther Strange issued cease & desist letters for Daily Fantasy Sports
• In 2017, the Alabama House passed a Daily Fantasy Sports Bill, the Senate did not

How did the 2018 Daily Fantasy Sports Bill SB 325 meet its demise?

It failed a vote to bring the bill up for debate.

Alabama Political Reporter | Fantasy sports bill fails on Senate floor

State: Georgia

The Georgia Fantasy Sports Bill: House Bill 118

3 Key Regulations from the legalization of fantasy sports bill in Texas:

• 6% tax on fantasy sports operators
• usual limitations: 18+, background checks for operators, state registration with a fee of $5,000 or $15,000 depending whether its revenue is above or below $3 million, annual audits
• defining fantasy sports outside the definition of gambling

Opposition: Concerned Women for America

• “gambling leads to higher instances of alcohol or drug use and mental illness”

Atlanta Journal Constitution | Georgia Senate panel backs bill to regulate, tax online fantasy sports

The Dallas Morning News Editorial Board offers reasons Texas Legislature should update its Tax Code in response to the federal tax changes:

• Peer Pressure. Other states are doing it, and Texas must too to be competitive
• Higher Corproate Tax States will get hit.  Jobs will shift to lower tax states 
• Margins Tax has problems like taxing companies that don’t turn a profit & Texas is 49th in corporate taxes
• Property tax system is messy. 

Dallas Morning News | Editorial: Tax reform now moves to the states, and Texas needs to work to remain competitive

State: Missouri

The legislation: HB 1657 (2018) 

What does Missouri’s HB 1657 do?

• Permits out of state residents that own property in Missouri to pay in satte fish and hunting fees

What do opponents say? 

• Cuts $5 million in conservation fee revenue over 10 years
• The author is doing this for his brother, a California resident who owns property in Missouri

Missourian | Editorial: Trash This Bill

• Hire a Chief Investment Officer and Chief Financial Officer
• Get out of illiquid investments and move toward a more traditional investment strategy
• What investments are highlighted as crazy investment decisions
  • BTG Pactual a fund managing timber in Brazil & South Africa
  • Asian infrastructure funds
  • North Texas Opportunity Fund with the single asset of a Dallas yellow cab company
  • North Texas Opportunity Fund: nuts, apples and crops
  • Tens of millions in oil and gas
• Form an investment advisory committee

Dallas Morning News | Why the Dallas Police and Fire Pension System is stuck with nuts and other ‘crazy’ investments

Texas Comptroller maintains 5 divestment lists:

• Companies that Boycott Israel (PDF)

  • KOMMUNAL LANDSPENSJONSKASSE GJENSIDIG FORSIKRINGSSELSKAP 

• Scrutinized Companies with ties to Sudan (PDF)

  • China National Petroleum Corporation China Petroleum & Chemical Corporation CNPC Capital Company Limited
    CNPC General Capital Limited

    Daqing Huake Company Limited
    Harbin Electric Company Limited
    Jiangxi Hongdu Aviation Industry Co., Ltd.
    KUWAIT FINANCE HOUSE K.S.C.P
    LS INDUSTRIAL SYSTEMS CO.,LTD
    MANAGEM S.A.
    MANGALORE REFINERY AND PETROCHEMICALS LIMITED OIL AND NATURAL GAS CORPORATION LIMITED
    OIL INDIA LIMITED
    ONGC VIDESH VANKORNEFT PTE. LTD.
    ONGC VIDESH LIMITED
    Orca Gold Inc
    Petrochina Company Limited
    PETROLIAM NASIONAL BERHAD (PETRONAS)
    PETRONAS Capital Limited
    PETRONAS CHEMICALS GROUP BERHAD
    PETRONAS DAGANGAN BERHAD
    PETRONAS GAS BERHAD

    PETRONAS GLOBAL SUKUK LTD 

    Shanghai Electric Newage Company Limited 

    SINOPEC Engineering Group Co Ltd
    Sinopec Oilfield Equipment Corporation Sinopec Oilfield Service Corporation
    Societe Metallurgique d’Imiter (SMI)
    The Energy House Holding Company (K.S.C)

     

• Scrutinized Companies with ties to Iran (PDF)

  • DAELIM INDUSTRIAL CO., LTD

    GAZPROM
    GLENCORE PLC
    HYUNDAI MOTOR COMPANY INDIAN OIL CORPN.

    LIMITED LLOYDS BANKING GROUP PLC NOKIA OYJ

    NORINCO INTERNATIONAL COOPERATION, LTD.

    OUTOTEC OYJ
    POWER CONSTRUCTION CORPORATION OF CHINA, LTD.

    TELECOM ITALIA SPA

    TELEFONICA S.A. 

• Designated Foreign Terrorist Organizations (PDF)
  • The Usual Suspects
• Scrutinized Companies with ties to Foreign Terrorist Organizations (PDF)
  • None

The paper: Odessa American

The Op-Ed writers: Texas Pulic Policy Foundation staff Carine Martinez-Gouhier & Vance Ginn, Ph.D.

3 Reasons to oppose 313 tax abatement deals in Texas:

• Bad for local businesses that will pay more in taxes & could face competition from the Chapter 313 recipient business
• Strain local school Funding. 313 agreements exempt their property value from school funding formulas & schools can negotiate supplmental payments from the 313 recipient outside of school funding formulas which incentivizes schools to enter into 313 agreements
• Studies say 85% of the businesses would have located there without a 313 Agreement. According to a University of Texas at Austin study by  Dr. Nathan Jensen

Odessa American | GUEST VIEW: School tax abatement deals: Boon or pandora’s box?

Ohio Attorney General filed suit to invoke an Ohio law that prevents a professional sports team that receives a tax benefit, or its stadium receives a tax benefit, from leaving OH.

Why does this law exist? It was passed and never invoked to keep the Cleveland Browns in Cleveland

If the law doesn’t survive constitutional challenges, such as a Commerce Clause violation, can its effect still be felt? 

• yes, it slows the process
• yes, it could harm a stadium deal in Texas

Columbus Dispatch | Move to block Crew relocation raises many legal questions

The new angle on Educational Savings Accounts? Military Educational Savings Accounts

3 Reasons the military should have ESAs for their offspring?​

• “educational opportunities play an important role in determining whether a military family accepts a particular assignment”
• “35% of service members have considered leaving the military because of the limited education options available”
• 40% have either declined or would decline a career-advancing opportunity at a different installation if it meant their child would have to leave a high-performing school.

50% of military personnel are stationed in states without school choice.

Wall Street Journal | Military Families Deserve School Choice 

State: Connecticut

The revenue at issue with direct sales by manufacturers, like Tesla:  $5 million per year, in Connecticut a car purchased out of state by a resident, must pay the different between the other state’s sales tax & Conencticut’s sales tax.

How must percentage difference does the $5 million in annual revenue account for? Most Tesla sales are in New York, which as a 0.4% lower sales tax rate.

New Haven Register | Tesla makes plea to sell electric cars in Connecticut

State: Louisiana

The Fantasy Sports legalization bill: Louisiana HB 484 (2018) 

The 3 step method to legalize fantasy sports in Louisiana:

• Require approval by of the voters
• Push all licensing and regulation to the Louisian Gaming Control Board
• Statutorily declare fantasy sports to not be gambling

What is sparking the sports betting legislation? Anticipated ruling by the US Supreme Court in Christie v. NCAA that will strike down the federal ban on sports betting

Examples of state responses to potentially legalized sports betting:

•  Rhode Island Governor’s proposed budget relies on $23.5 million of new revenue from sports gambling

What type of revenue is involved for states?

• sports betting is estimated at $41.2 billion industry according to the American Gaming Assoc.
•  $3.4 billion in taxes to state and local governments would stem fromt he $41.2 billion industry

Governing | The Week in Public Finance: Betting on Sports Gambling Becoming Legal, States Up the Ante

Where: Rhode Island

Legislator Proposing a tax on M rated video games: Representative Robert Nardolillo III (R-Dist. 28, Coventry)

The tax:  additional 10% sales tax on M-rated video games

The tax revenue dedicated to fund: increase mental health and counseling resources in schools

The response: Reason calls it an unconstitutional violation of the first amendment because of the ruling in Brown v. Entertainment Merchants Ass’n (2011) that protects violent video games as free speech.

Reason | R.I. Proposal to Tax Violent Video Games 

City:  Los Angeles

Revenue sources from retail marijuana:

• licensing fees

Los Angeles Ordinance policy questions:

• what type of advertising will be permissible
• 800-foot buffer zones between cannabis storefronts and:
  • drug and alcohol recovery facilities
  • day care facilities
  • supportive housing
  • public libraries
  • parks
  • schools
  • homes
• how to craft ordinances for special events like:
  •  private clubs
  • lounges
  •  special events hosted by licensed businesses outside their storefronts

Courthouse News Service | LA Rakes in Over $2 Million in Retail Pot’s First Two Months

WHERE:New Jersey

WHO: lawmakers

HOW to divest from guns: a bill to  “prohibit the state from investing assets of any pension or annuity fund in companies that manufacture firearms or ammunition,”

CNBC | Following Florida mass shooting, New Jersey lawmakers look to bar state pension funds from investing in gun makers 

What’s happening? The Philadelphia Parking Authority is looking for a revenue source with a statutory shift from a 1.4% gross receipts tax on ride share, limos and taxis to a 50 cents per ride for ride share, taxis and limos.

Why supporters like the fee: No audits. Unlike taxing gross receipts, ensuring that the per ride fee is attached to rides, will not require costly audits to determine company revenue. 

Philadelphia Business Journal | Philadelphia Parking Authority floats new method to fund its operations, city schools 

State: Maine

The bill taxing short term rentals:  Maine LD 1721 (2018)  & Maine LD 1805 (2018) 

How this bill taxes short term rentals: 

• Expands the sales tax to include short term rentals
• Taxes the gross amount of the short term rental, including the portion that is retained by the platform

Maine Wire | Maine should resist taxing the ‘sharing economy’

State: nebraska

The irrigation tax bill: LB 1022

What does the irrigation tax bill look like?

• 1 cent per 10 gallons of water excise tax on irrigation
• only those using water would pay the tax
• filed to make a point that valuable resources go unfairly taxed, and as such the bill’s author cannot sign a property tax cut pledge

NBC 2 | Irrigation tax proposed…a nightmare for legislature and ag producers

TPPF’s  Texas Prosperity Promise in a nutshell:

• PUBLIC EDUCATION
  • ​replace the complex, convoluted school finance system
    • create a student-centered finance system
    • focus funding on delivering “top-notch education to Texas public school students”
  • School Choice
  • remove onerous education mandates
    • give teachers and school leaders more flexibility to innovate
  • Better civics curriculum
  • no “weak substitute courses” for government and American history like we have now
• PROPERTY TAXES
  • ​reduce property taxes and offset it with state revenue (no specific revenue, just revenue)
  • limit local property tax revenue increases to no more than 2.5 percent per year
  • limit state revenue spending to  4 percent or population growth plus inflation
• TRANSPARENCY
  • ​no local government lobbyist spending
  • no automatic contributions to unions by public employees

​

FYI expect to see these pieces of legislation replicated in Texas in 2019:

• TPPF likes Missouri’s tort reform & pro business policies
• TPPF likes South Carolina’s low cost of doing business

TPPF | A PROMISE TO KEEP TEXAS AHEAD