History of Actions | Background | Title |
Description: Sales taxation; use tobacco litigation settlement funds to reduce the general sales tax rate.
| 1 | 01/15/98 | (S) | Referred To Finance | |
| 2 | 02/25/98 | (S) | Died In Committee |
| Effective date | July 1, 1998 | |
| Disposition | Dead | |
| Deadline | Revenue/Appropriation | |
| Revenue | Yes | |
| 3/5ths vote required | Yes |
Senate Committee:
Principal Author: Hawks
Additional Author: Minor
Code Sections: A 027-0065-0015, A 027-0065-0017, A 027-0065-0019, A 027-0065-0022, A 027-0065-0023, A 027-0065-0025
Title: AN ACT TO CREATE A SPECIAL FUND DESIGNATED AS THE "TOBACCO LITIGATION SETTLEMENT FUND" INTO WHICH SHALL BE DEPOSITED MONEY RECEIVED AS SETTLEMENT OF ANY LITIGATION IN WHICH THE STATE OF MISSISSIPPI IS A PLAINTIFF OR CLAIMANT FOR DAMAGES SUFFERED BY THE STATE AS A RESULT OF THE USE OF TOBACCO BY RESIDENTS OF THE STATE; TO PROVIDE THAT MONEY IN SUCH FUND SHALL BE USED TO PAY ATTORNEYS' FEES IN CONNECTION WITH THE TOBACCO LITIGATION; TO PROVIDE THAT MONEY REMAINING AFTER THE PAYMENT OF ATTORNEYS' FEES SHALL BE USED TO PROVIDE REVENUE TO MAKE UP FOR THE LOSS OF SALES TAX REVENUE RESULTING FROM A REDUCTION IN THE GENERAL SALES TAX RATE OF ONE PERCENT; TO PLACE LIMITATIONS ON ATTORNEYS' FEES PAYABLE OUT OF THE FUND OR IN CONNECTION WITH TOBACCO LITIGATION SETTLEMENTS; TO AMEND SECTIONS 27-65-15, 27-65-17, 27-65-19, 27-65-22, 27-65-23 AND 27-65-25, MISSISSIPPI CODE OF 1972, TO REDUCE THE SALES TAX ON ALL ITEMS CURRENTLY TAXED AT 7% TO 6%; AND FOR RELATED PURPOSES.
End Of Document
1998/History/SB\SB2704.htm