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2004 SPECIAL SESSION I

• | print version

HB 5010 Retail Sales and Use Tax; increased by state and localities.

Introduced by: James M. Shuler | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

State and local sales and use tax. Increases the state sales and use tax from 3.5 percent to 4.0 percent, and authorizes counties and cities to impose an additional one-half percent local sales and use tax. The local tax may be imposed only for a period of five years, but may be renewed for successive five-year periods by adoption of new ordinances. If such local tax is imposed, then the locality must adjust its real estate tax rates so that the total real estate tax revenues collected for each year during each five-year period shall not exceed the total real estate revenue collected for the year immediately preceding the imposition of the tax.

FULL TEXT

• 04/05/04  House: Presented & ordered printed 041478508  pdf

HISTORY

• 04/05/04  House: Presented & ordered printed 041478508
• 04/05/04  House: Referred to Committee on Finance
• 05/07/04  House: No action taken by Finance by voice vote