Appropriations A/V — 2015

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Announcements and Approval of Minutes00:00:06
Mr. Jim Terwilliger, Bureau of Finance and Management presented South Dakota and U.S. Economic Outlook to the committee00:01:59
IHS Economics Most Recent US Forecast - Chart00:05:25
Monthly Nonfarm Employment Levels: US Growing at Faster Rate Than South Dakota - Chart00:07:28
Nonfarm Employment Growth - Bureau of Labor Statistics - Chart00:09:13
Senator Parsley - question does low employment growth have anything to do with low level of unemployment rate00:09:54
Growth Rates of Nonfarm Income - Bureau of Economic Analysis - Chart00:11:05
Unemployment Rates Trending Lower - Bureau of Labor Statistics - Chart00:11:58
SD Farm Income - Down from Record Levels Leading to Lower Spending - Chart00:14:05
Most Recent South Dakota Forecast - IHS Economics & SD Bureau of Finance and Management - Chart00:16:55
Senator Buhl-O'Donnell - question why and how Mr. Terwilliger changed forecast from IHS Economic Projections00:18:45
Senator Tidemann - question how do you see trend for long term commodity prices and what impact does the strengthening dollar impact commodity grain prices00:20:07
Representative Hunhoff - question what contributes to South Dakota Housing start trend00:21:40
Bureau of Finance & Management Revenue Forecasts Booklet 00:22:40
FY2015 and FY2016 General Fund Revenues - Pie Chart - Page 100:23:14
Sales and Use Tax - Page 200:23:45
Sales and Use Tax - Page 3 and Page 400:24:27
Representative Anderson - question do you anticipate interest rate change from Federal Reserve and what impact willl that have on sales tax revenue00:29:40
Senator Parsley - question what is source of sales tax increase and is 3.82% increase for FY2016 attainable 00:30:35
Lottery - Page 500:33:36
Contractor's Excise Tax - Page 6 and Page 700:34:58
Representative Partridge - question if Housing Permits are used in revenue projections00:36:43
Senator Tidemann - question how many different projects coming into South Dakota in the next year are at the $20 million level and requested information00:37:45
Senator Parsley - question will SB1 affect Contractor's Excise Tax 00:38:10
Insurance Company Tax - Page 800:39:08
Unclaimed Property Receipts - Page 900:40:30
Senator Tidemann - question how much revenue could be realized from unclaimed property online auction00:43:07
Governor's Revised FY2015 vs. March Revised FY2015 - Page 23 00:44:20
Governor's Recommended FY2016 vs. March Revised FY 2016 - Page 2400:45:28
Representative Partridge - question what is trend of Bank Franchise Tax for FY1500:46:19
Senator White - question what is souce of recovery for sales tax 00:47:51
Senator White - question is farm industry a factor in projected sales tax increase00:50:10
Mr. Aaron Olson, Legislative Research Council, presented Ongoing General Fund Revenue Estimates to the committee00:51:25
Representative Anderson - question on trend for Tobacco Tax Fund01:01:08
Senator Heineman - question why is Investment Income & Interest so low for adopted FY15 Estimates01:02:57
Senator Tidemann - question what is trend of Insurance Company Tax01:03:26
Senator Heineman - question why is LRC projection for Lottery at a 3% growth when video lottery is expected to have a 7% growth01:05:15
Senator Heineman - question will new lottery machines have an impact on Lottery Income01:06:29
Summary of Estimates (FY15 Estimates and FY16 Estimates) - Bureau of Finance and Management vs. Legislative Research Council01:07:25
Annoucements01:09:00
Adjourn01:09:20

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