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®CITY OF SOUTH BEND OFFICE OF THE CLERK <br /> Since there is such a large surplus, Maureen Bauer added that the state is looking to cut taxes. <br /> There are several proposals to reduce taxes for families; however, this is a tax cut related to <br /> doing business. There would be a local impact on reducing this business tax. <br /> Committeemember Henry Davis Jr. asked if there is an appetite for replacement monies. <br /> Maureen Bauer responded that the current bill does not replace local communities and <br /> governments. <br /> Councilmember Lori K. Hamann stated that Iowa did the same thing and ran out of surplus. As a <br /> result, cities started losing millions annually. She asked how the state would be held accountable <br /> once the surplus is gone. <br /> Maureen Bauer responded that taxes for doing business would be cut by one billion dollars <br /> ($1,000,000,000). There is a reluctance to spend any other amount of the surplus. The only <br /> proposal to spend it is to pay back debts. <br /> Committeemember Troy Warner made a motion to send Bill No. 22-12 to the Full Council with a <br /> favorable recommendation. Committeemember Henry Davis Jr. seconded the motion, which <br /> carried by a voice vote of five(5) ayes. <br /> With no further business, Chair Sheila Niezgodski adjourned the Personnel & Finance meeting at <br /> 3:46 p.m. <br /> Respectfully Su mitted, <br /> J�" <br /> Sheila Niezgodki, Committee Chair <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 455 County-City Building 227 W.Jefferson Bvld South Bend,Indiana 46601 p 574.2359221 f 574.235.9173 TTD 574.235.5567 www.Soutlibendin.gov <br /> 2 <br />