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2023 SESSION
HB 2176 Income tax, state; distribution of revenues to localities, funds for local school construction.
Introduced by: Mark D. Sickles | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Individual income tax; distribution of revenues; local school construction. Requires distribution of five percent of the individual income tax revenues collected from residents of a locality to be distributed to that locality. The bill requires such funds to be used for school construction or renovation purposes and to be repaid to the state if used for any other purpose. The bill provides that a locality shall be required to maintain its level of expenditure for public school purposes as a condition of receiving the income tax revenues; however, a locality may reduce its level of expenditure to account for a loss of revenues resulting from a reduction in machinery and tools taxes.
FULL TEXT
AMENDMENTS
HISTORY
- 01/11/23 House: Prefiled and ordered printed; offered 01/11/23 23104072D
- 01/11/23 House: Referred to Committee on Finance
- 01/19/23 House: Assigned Finance sub: Subcommittee #3
- 01/27/23 House: Subcommittee recommends laying on the table (5-Y 3-N)
- 02/07/23 House: Left in Finance