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2006 SESSION

• | print version

HB 396 Enterprise zones; provides combined state and local sales and use tax rate therein.

Introduced by: A. Donald McEachin | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Enterprise zones.  Provides that the combined state and local sales and use tax rate in an enterprise zone shall be 2.5% and authorizes localities to increase the local license tax thresholds from $50,000 and $100,000 to $250,000 and $500,000, respectively. Revenues from the 2.5% sales and use tax shall be distributed as follows: 1% shall be distributed in the same manner as the local sales and use tax, 1% shall be distributed to the general fund of the state treasury, and 0.5% shall be distributed to the Transportation Trust Fund.

FULL TEXT

• 01/06/06  House: Prefiled and ordered printed; offered 01/11/06 067887410  pdf | impact statement

HISTORY

• 01/06/06  House: Prefiled and ordered printed; offered 01/11/06 067887410
• 01/06/06  House: Referred to Committee on Finance
• 01/18/06  House: Assigned to Finance sub-committee: #1 (Orrock)
• 02/15/06  House: Left in Finance