Mississippi Legislature

1999 Regular Session

Senate Bill 2912

[Introduced]

Instructions Bill Status Menu




History of Actions

Background

Title

Description: Sales taxation; use tobacco litigation settlement funds to reduce the general sales tax rate.

History of Actions:

101/18/99(S)Referred To Finance
202/24/99(S)Died In Committee

Background Information:

Effective dateJuly 1, 1999
DispositionDead
DeadlineRevenue/Appropriation
RevenueYes
3/5ths vote requiredYes

Senate Committee:

Principal Author: Hawks

Additional Authors: Johnson (19th), Kirby

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 AND 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.


Information pertaining to this measure was last updated on 02/24/99 at 14:24.



End Of Document

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