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2004 SESSION
HB 892 Income tax, state; distribution of individual revenues to localities.
Introduced by: Mark D. Sickles | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Income tax; distribution of revenues to localities. Requires the transfer of one percent of individual income tax revenues to localities in 2004, and the amount increases one percent each year until it reaches a maximum of five percent for 2008 and thereafter. The revenues are distributed to counties and cities as follows: (i) 50 percent based on the relative share of the total state income tax paid by taxpayers filing returns in each locality, (ii) 40 percent based on where wages are earned, and (iii) 10 percent divided equally among all counties and cities.
FULL TEXT
HISTORY
- 01/14/04 House: Presented & ordered printed, prefiled 01/14/04 046435510
- 01/14/04 House: Referred to Committee on Finance
- 01/15/04 House: Assigned to Finance sub-committee: 2
- 01/28/04 House: Continued to 2005 in Finance (19-Y 2-N)