VETO SESSION SET; EXTENSION OF CONVEYANCE TAX EXPECTED

State lawmakers will gather at the state Capitol today for the annual “veto session”—a chance to override the governor’s veto of bills that passed the legislature by wide margins.

Technically, any bill can be brought out but legislative leaders try to limit the action to bills that are crucial or that are sure to result in passage. Otherwise, they end up with an avalanche of bills that will take time lawmakers are not willing to take at this time of year.

One bill that will almost assuredly pass is an extension of the real estate conveyance tax. Cities and towns rely heavily on the revenue.

The Energy Reform bill will not be brought out nor will the Troubled Asset Relief Program tax bill—a good but possibly unconstitutional bill that would tax the multimillion dollar bonuses received by executives of companies helped by the federal TARP bill. The money would go toward tax relief for small business in the state. The governor vetoed both bills despite her rhetoric about wanting to decrease electricity rates and help small business. These bills would have done both.