SB 1242 Implements a cap on sales taxes levied by counties and municipalities
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:
Effective Date:January 1, 2003
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Current Bill Summary

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.