Finance Committee Agenda and Packet 2017 04 17

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City Council Finance Committee Meeting Minutes 03/24/17 Page 2 of 3 Tax Manager Penney Bolte presented the sales tax reports for the month of January 2017 to the Finance Committee Members. Ms. Bolte asked the Committee Members if they had any requests to revise, change, or add, to the tax reports currently provided. The Finance Committee Members stated that the existing reports were sufficient and requested no modifications. The reports and corresponding narrative can be located in the March 24, 2017 packet of the Special Finance Committee meeting. STANDARD DEFINITIONS PROJECT Tax Manager Penney Bolte presented the background of the Standard Definitions Project and provided the Finance Committee Members with a draft of an Ordinance that would adopt these new definitions. Ms. Bolte summarized the following: The amendment of Chapter 3.20 (Sales and Use Tax) of the Louisville Municipal Code includes the adoption of the Standard Definitions and several changes to other administrative provisions of the Code including, the statute of limitations, adding the option for an informal taxpayer meeting prior to the hearing process, and setting forth the pre -collection of building use tax by the Building Safety Department for all public improvement permits (previously untaxed). The language for the latter item is currently being drafted by the City Attorney's Office. The Ordinance amendment also includes an amendment to Chapter 3.22 (Lodging Tax) of the Louisville Municipal Code and adds the requirement to show tax as a separate and distinct line item, and that any excess tax collected must be remitted to the City. Finance Committee Members discussed and reviewed the following items: • The Senate Joint Resolution 14-038, along with the background and history provided by CML • The color -coded matrix of the tax definitions developed by staff and reviewed by the City Attorney's Office • Redline and clean copies of the proposed Code changes Finance Committee Chairperson Ashley Stolzmann requested staff contact the City Attorney's Office to ask if the definition of Charitable Organizations in Chapter 3.20 Sales and Use Tax Code should be reflected, or in line with, the definition of Charitable Organizations in Chapter 3.04.100 Financial Procedures — Appropriations for Public Purpose. 11