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2001 SESSION

• | print version

HB 1994 Imposition and administration of income and property taxes.

Introduced by: Harry J. Parrish | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Imposition and administration of income and property taxes. Increases the individual income tax rate by one percent at each level (from two percent to three percent, three percent to four percent, five percent to six percent, and 5 3/4 percent to 6 3/4 percent) and the corporate income tax rate from six percent to seven percent, effective January 1, 2002. The bill also limits the rate localities may levy for the personal property tax to $0.01 per $100 of assessed value for tax years beginning on and after January 1, 2002. The Tax Commissioner will administer the additional income tax revenues and distribute them to the localities based on the residence of each individual taxpayer and each locality's share of total full-time employees.

FULL TEXT

• 01/10/01  House: Presented & ordered printed, prefiled 01/10/01 011303880  pdf | impact statement

HISTORY

• 01/10/01  House: Presented & ordered printed, prefiled 01/10/01 011303880
• 01/10/01  House: Referred to Committee on Finance
• 01/18/01  House: Assigned to Finance sub-committee: 1
• 02/05/01  House: Left in Finance