| SB 0849 | Specifies original assessment of distributable property of freight line companies; director of revenue to collect tax |
| Sponsor: | Caskey | |||
| LR Number: | S3303.02P | Fiscal Note: | 3303-02 | |
| Committee: | Ways and Means | |||
| Last Action: | 05/15/98 - H Calendar S Bills for Third Reading | Journal page: | ||
| Title: | SCS SB 849 | |||
| Effective Date: | August 28, 1998 | |||
SCS/SB 849 - This act gives the State Tax Commission the
exclusive power of original assessment of the distributable
property of freight line companies and requires the Director of
Revenue to collect the taxes on such property. The act creates
the County Private Car Tax Trust Fund and requires apportionment
of the revenues to each county in proportion to the mainline
track mileage located in that county. Prior to distribution of
the trust fund amounts to the counties, six-tenths of one percent
is required to be transferred to the blind pension fund. Each
county is required to apportion 70% of the revenues to the local
school districts and the remaining 30% to county general revenue.
RUSS HEMBREE