The 2018 legislative session is at minimum half way over. The legislature has now met 16 of the possible 30 days this session, however as mentioned in previous reports there are high hopes the session will end early for members to return home to campaign. Both the ETF and General Fund Budget have cleared their house of origins. The General Fund Budget will appear before the House Ways and Means General Fund Committee tomorrow and is expected to be approved. The committee will also consider SB 185 by Senator Clyde Chambliss that would provide a one-time 3% cost of living salary increase for all state employees.
Bills of Interest to the Concrete Industry
SB 311 by Senator Jabo Waggoner will be in the House Jefferson County Community Committee this week. SB 311 would allow the current automobile rental tax to be used to fund the construction of a stadium suitable for NCAA Division I football games. Under new Birmingham Mayor Randall Woodfin, the city appears to be moving forward with a facility to replace the aging Legion Field. Creating a funding stream for the city has always been a large hurdle, but this would remove another obstacle.
HB 248 by Representative Kyle South which would allow new homeowners to save up to $60,000 tax free for use in a down payment or for closing cost could receive final approval this week in the Senate. The legislation would also allow the savings account for people who have not owned a home in over 5 years. The bill should be a great economic driver for residential construction.