Senate Kills "Mills to Cents" proposal

The Senate has defeated HB 1055 otherwise known as the "Mills to Cents" proposal. Thursday morning's vote was 3-43. Killing this bill was a huge priority for the auditors who were at the Senate hearing on this bill in full force to make sure their concerns were heard. The 155 page bill did one thing; it removed any reference of mills in the code and replaced it with cents. Senator Dwight Cook told the Senate he was not convinced the change would make it easier for taxpayers to understand their tax statements. He referenced that the state can remove reference of mills from the tax statement without having to change the entire tax system.