| SB 1242 | Implements a cap on sales taxes levied by counties and municipalities |
| Sponsor: | Gibbons | |||
| LR Number: | 4905S.01I | Fiscal Note: | 4905-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 03/19/02 - Hearing Conducted S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | January 1, 2003 | |||
SB 1242 - This act creates a maximum sales tax which may be levied on any sale. The act also implements a maximum tax which may be levied by a county and a maximum tax which may be levied by a municipality, both of which are in direct proportion with the statewide sales tax rate.
The act has an effective date of January 1, 2003.
JEFF CRAVER