Show views from capitol hill by united press by the time the 1937 session of legislature convenes oncoming incoming state officials will oro bably be too worried by problem of governmental expense and tax lax aaion to realize that prosperity i returning unemployment decreasing and much of the country i beginning to live again with fe economic worries although most business men re port the most active and romaner active season in a number of year some of them all time high such a picture does not coffron tile the 1937 legislature convening oi 01 capitol oil hill january 11 many officials feel that in orde to provide adequate funds to fo governmental expense during th forthcoming biennium the legis lature will lr la forced to enact nev tax measures others are hopeau that new revenue measures wi wib not be necessary but they admi they may be others whistle 1 ii I the dark and choose 0 to o let the matter slide until tile the legislature convenes 1 whatever the outcome ono one thing seems certain if the legislature goes the full limit in fol loang the homestead tax exemption amendment approved by vi voters at the november elections new revenues must necessarily be found As passed it at the polls the rne provides for exempting homes act cht ct VA au cht VA au to the extent of 2000 and personal property up to I amount of exemption however I 1 actually rests in the hands hands of ali the I 1 legislature officials I 1 point out few believe the lawmakers will go the limit in providing relief to home co comers mors such a move not only would jeopardize a principal source of state income but also would be many feel the amendment only one of five propositions to receive voter endorsement dor squeaked through with but the barest majority majoria y on the other side 0 of the homestead exemption picture is the report of the committee of nine released recently revealing that hat tile committee will recommend to I 1 legislators adoption of the amendment with the greatest exemption possible pos sibe while city tax structures would be unaffected by such action committee chairman george miller estimated that under the committees new exemption proposal tax losses would be as follows state and local school funds and the state general fund the committee commett ee advanced a half dozen possibilities for balancing the loss they included possible increase of in li liquor liquor revenues added income from a revised metal mines tax and from a natural gas as ewt ta additionally several forms of bank tax have been advanced with potential yields ranging from to possible return of a general tobacco tax an and a levy on iron ore have not been 1 compiled in piled but both sources have been eyed as likely fields for new incomes but powerful lobbies and numerous legal tangles would be confronted in bringing about such a revision observers feel consequently quent ly that a full exemption of homes lom es and personal property I 1 is un unlikely likely at this session |