The House and Senate agreed to a $27.4 million in fee increases Thursday evening.
Most of the money — $24.25 million – comes from a bump in fees for mutual funds and securities brokers.
That kind of money is typically raised in the miscellaneous tax bill, but this year lawmakers chose to use fees as a vehicle for filling a $30 million plus budget gap instead of significantly raising taxes.
Last month, the Senate ditched House plans for an increase in a tax on banks and a quarterly rate hike in employer assessments for workers without health insurance. The House originally sought to raise about $10 million. As budget writers found more areas to cut and the Senate found ways to shift more of the burden on fees, the number came down to $3 million.
Read more by clicking below image