Board of Finance Tax Sub-Committee Meeting
Monday, March 5, 2018
6:30 p.m., Old Town Hall
Present: S. Clark, Co-Chairman; R. Dean, Co-Chairman; K. Yonkers; E. Miller; J. Barickman.
Also present: P. O’Donnell; members of the public.
Co-Chairman Dean called the meeting to order at 6:41 p.m.
1. To appoint a temporary Secretary to take Minutes of Meeting
On the motion of S. Clark and with the second of R. Dean, the Board voted unanimously to appoint J. Barickman as temporary meeting Secretary for purpose of recording Meeting Minutes.
2. Sub-Committee Scope
On the motion of E. Miller and with the second of J. Barickman, the Board voted unanimously to accept the following statement of scope for the Tax Sub-Committee:
“To evaluate implications for Redding taxpayers of the limits on SALT (State and Local Taxes) deductions established in the new Federal Tax Reform Law and to develop recommendations for the Town to consider that might mitigate any negative impact.”
3. Agreed-upon Work Streams
The Sub-Committee agreed to pursue four general work streams led by various Committee members: 1) monitor and evaluate activity at the State level to address SALT deduction limitations [led by S. Clark]; 2) monitor and evaluate activity at the Regional or other Local Municipality level to address SALT deduction limitations [led by K. Yonkers]; 3) develop potential actions that Redding could take at a municipal level to address SALT deduction limitations [led by E. Miller and J. Barickman]; and 4) develop a set of evaluative criteria with which to judge the viability and impact of various actions to address SALT deduction limitations [led by R. Dean].
4. Establishment of Sub-Committee Next Meeting Date
The Members agreed to schedule the Sub-Committee’s next meeting on Monday, March 26 at 6:30pm prior to the Board of Finance’s regularly scheduled meeting.
On the motion of J. Barickman and the second of S. Clark, the Board voted unanimously to adjourn the meeting at 7:41 p.m.
Submitted by: James Barickman