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1998 SESSION

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HB 860 Property tax reduction.

Introduced by: Anne G. Rhodes | all patrons    ...    notes | add to my profiles

SUMMARY:

Property tax reduction. Requires localities to reduce the real estate tax rate, personal property tax rate or both when there is funding for the personal property tax relief program and an appropriation is made from the general fund to each locality. Such appropriation will be made on a per capita basis beginning in fiscal year 1999. Each locality must submit a plan to the Secretary of Finance for approval explaining how the rates will be lowered. Once approved, the funds will be dispersed by the State Treasurer. Once the tax relief program is fully funded, appropriations shall increase or decrease annually in accordance with revenue growth.

FULL TEXT

• 01/26/98  House: Presented & ordered printed 985968430  pdf

HISTORY

• 01/26/98  House: Presented & ordered printed 985968430
• 01/26/98  House: Referred to Committee on Finance
• 01/29/98  House: Assigned to Finance sub-committee: 1
• 02/18/98  House: No action taken by Finance by voice vote