This month’s update includes information about legislation affecting the State Board of Accountancy, tax legislation that was passed, information on the Fiscal State of the Nation resolution, an update from the State Board of Accountancy meeting and a message of gratitude.
Accountancy Board Legislation
As you may recall from our communications, the Accountancy Board is at risk of losing CPAs as the majority of its members due to SB 1274 (professional regulatory boards; composition). Thanks to the Society’s quick action and member outreach, the bill was halted in last month’s Senate Commerce Committee. Unfortunately, the bill reemerged on this month’s agenda and passed by a 5-2 vote. The bill has passed out of the Rules Committee and will soon be voted on by the senate. The bill was discussed in both Republican and Democrat caucuses and several lawmakers raised concerns.
The legislation reduces the current makeup of the Board from five CPAs and two public members to four public members and three CPAs, one of whom cannot be an active practitioner. The ASCPA, with member assistance, is working diligently to educate lawmakers on the necessity of expertise on the Board. Watch ASCPA lobbyist Kevin DeMenna’s testimony on the legislation here.
The Senate Finance Committee and the House Ways & Means Committee have passed mirror conformity bills for the 2020 session. ASCPA Director of Government Relations, John Baumer, testified in support. You can view the testimony here. The ASCPA also worked with lawmakers to ensure help amend several tax bills that would have had unintended consequences. Our Tax Legislation Review Committee meets regularly to assist. Thanks to James Busby, Anne Cornelius, Diane Darling, Chris Hallstrom, Lisa Johnston, Michael Lemme, David Walser, Gary Williams, Jeff Williams and Ed Zollars.
Fiscal State of the Nation Resolution
Senator Kyrsten Sinema introduced the Fiscal State of the Nation resolution, which requires the Comptroller General to present the U.S. Financial Report to a joint hearing of the House and Senate Budget Committees. The ASCPA thanks Senator Sinema for her efforts and for sponsoring the Senate Resolution.
At this month’s State Board of Accountancy meeting, the Board received an update on the legislative session and bills impacting the Board and profession. The Board also discussed the recent rule package that was approved by the Governors Regulatory Review Council. For a summary of the rulemaking, please visit the Board website.
This legislative session has been busier than most, and we are tracking more bills than usual. Thank you for your continued engagement by staying informed on these important issues for the profession. A special thank you to those who reached out to legislators when we need to make our voices heard!