first_img Farmers Called to Act on Statehouse Legislation Bob KraftAs the short session of the Indiana General Assembly winds down, several key pieces of legislation that will impact farmers are in need of action. Indiana Farm Bureau is calling on its members to lobby lawmakers on two key issues: farmland assessment and inheritance taxes.  The State Department of Local Government Finance has released new regulations on the assessment of farmland that take into account soil fertility factors. These new regulations were announced just a few weeks before assessment was to begin.  “The bottom line is that this would increase assessment by as much as 60% in some cases,” says Bob Kraft with Indiana Farm Bureau.  Legislators in both houses are upset with the last minute revisions.  In the Senate Appropriations Committee on Thursday, Sen. Brandt Hershman (R-Buck Creek) offered an amendment to HB 1190 (Rep. Suzanne Crouch, R-Evansville & Sen. Hershman) that will delay the effective date of the new DLGF rules by a year.  House Ways & Means Committee Chairman Jeff Espich has indicated that he expects a similar amendment on a Senate bill in his committee. Kraft is urging farmers to contact lawmakers to express support for a delay in the implementation of the new rules. Another issue requires farmer support is efforts to eliminate the Indiana inheritance tax. On Thursday in the House Ways & Means Committee, Rep. Eric Turner (R-Cicero) presented SB 293 rather than the author, Sen. Jim Smith (R-Charlestown).  SB 293 includes changes to the exemptions in the inheritance tax law and contains phase-down language.  As the bill left the Senate, it does not completely eliminate the inheritance tax.  Farm Bureau’s Katrina Hall testified in favor of the bill, noting how dramatically IFB members are affected by inheritance tax and stressed preference for the complete elimination language that is included in HB 1199, authored by Rep. Eric Turner (R-Cicero).  HB 1199 phases-out the inheritance tax over 10 years starting two years from now.  HB 1199 has not yet been scheduled for a hearing in the Senate. Kraft is urging Farm Bureau members to lobby lawmakers for the elimination of the tax. SHARE SHARE By Gary Truitt – Feb 21, 2012 Kraft said IFB is also seeking farmer support for legislation that would prevent cities and towns from having jurisdiction over aquifers.  The House Utilities Committee heard testimony on SB 132 (Sen. Beverly Gard, R-Greenfield & Rep. Dave Wolkins, R-Winona Lake).  The bill will require the Indiana Utility Regulatory Commission to collect, compile, and publicize in the aggregate data regarding water use by water utilities in Indiana.  The controversial portion of the bill is a section that would exclude underground aquifers from the definition of “watercourse” as that term is used in several statutes that give cities and towns the authority to regulate “watercourses” ten miles outside their municipal boundaries.  A Supreme Court decision last fall concluded that municipalities had the authority to regulate aquifers.  This means that a town could require a farmer to obtain a permit to pump water from the aquifer with a well on the farmer’s property, or they could prohibit the withdrawal of water altogether.  It could also set up a race among municipalities that are within ten miles of one another to claim the aquifer first.  Farm Bureau is one of the strongest voices calling for the legislative reversal of the Supreme Court’s decision to include aquifers in the definition of “watercourse.” At the hearing last Wednesday, Farm Bureau’s Justin Schneider testified in support of the bill.  The Indiana Association of Cities & Towns and several mayors testified against reversing the Supreme Court’s decision.  Following a lengthy hearing, Committee Chair Jack Lutz (R-Anderson) decided not to take a vote on the bill but announced that a vote would be taken this week.  Legislators are being asked by the mayors of the municipalities in their districts to vote against SB 132.  All legislators need to hear from their constituents who support the bill.center_img Home News Feed Farmers Called to Act on Statehouse Legislation [audio:https://www.hoosieragtoday.com//wp-content/uploads//2012/02/ifbwrap1.mp3|titles=Farmers Called to Act on Statehouse Legislation]Audio Playerhttps://media.blubrry.com/hoosieragtoday/p/www.hoosieragtoday.com//wp-content/uploads//2012/02/ifbwrap1.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.Podcast: Play in new window | Download | EmbedSubscribe: RSS Facebook Twitter Facebook Twitter Previous articleCautions Offered For PlantingNext articlePossible Stumbling Blocks for KORUS Gary Truittlast_img read more

first_imgHome / Daily Dose / The Week Ahead: CFPB Updates Congress On Tuesday, March 10, the Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing to examine the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress. The U.S. Supreme Court heard opening arguments Tuesday in Seila Law v. the Consumer Financial Protection Bureau—a case that could decide the constitutionality of the Bureau.The CFPB was designed to rein in abusive practices in consumer credit marks, such as home mortgages and credit cards. CNBC states it returned $12 billion to consumers between 2011 and 2017 but stopped pursuing enforcement actions under President Donald Trump.The CFPB has been the subject of several lawsuits, most recently by the California-based Seila Law. Seila Law alleges the CFPB’s insulation from presidential control is unconstitutional. The law firm challenged the agency after the CFPB targeted the firm 2017, CNBC states.Kannon K. Shanmugan, attorney for Siela Law, who argues the CFPB was constructed against the U.S. constitution, had a clear message for the Supreme Court.“The structure of the CFPB is unprecedented and unconstitutional,” Shanmugan said. “Never before in American history has Congress given so much executive power to a single individual who does not answer to the President.”He added that by limiting the President’s ability to remove the CFPB’s director, Congress violated the “core presidential prerogatives” to exercise the executive power that laws are faithfully executed.Shanmugan continued his opening remarks by saying the Solicitor General contends that the Supreme Court should rewrite the Dodd-Frank Act, giving the president the power to remove the CFPB’s director.“But the constitutional question, in this case, arises in the context of a defense to an enforcement proceeding and not a facial challenge,” he said.Here’s what else is happening in The Week Ahead:Financial accounts of the U.S. (March 12) in Daily Dose, Featured, Market Studies, News Subscribe The Week Ahead: CFPB Updates Congress Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post Previous: Seven Major Mortgage Servicing Tech Trends Next: CFPB Proposes Whistleblower Award Program Share Save March 8, 2020 1,090 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-03-08 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more