Mississippi Legislature

2000 Regular Session

Senate Bill 3102

Instructions Bill Status Menu




Bill Text

History of Actions

Background

Title

Description: Municipal Sales Tax Diversion Lawsuit Contingency Fund; create & fund by diverting portion of municipalities' share of sales tax.

Bill Text: [Introduced]

History of Actions:

102/21/00(S)Referred To Finance
203/07/00(S)Died In Committee

Background Information:

Effective dateJuly 1, 2000
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

Senate Committee:

Principal Author: Bryan

Code Section: A 027-0065-0075

Title: AN ACT TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE DESIGNATED AS THE MUNICIPAL SALES TAX DIVERSION LAWSUIT CONTINGENCY FUND; TO PROVIDE THAT MONEY IN SUCH FUND SHALL BE USED FOR THE PURPOSE OF PAYING ANY DAMAGES THAT MAY BE AWARDED THE PLAINTIFFS IN ANY LAWSUIT CHALLENGING THE METHOD EMPLOYED BY THE STATE TAX COMMISSION TO CALCULATE PAYMENTS MADE TO MUNICIPALITIES UNDER THE PROVISIONS OF SECTION 27-65-75, MISSISSIPPI CODE OF 1972; TO AMEND SECTION 75-65-75, MISSISSIPPI CODE OF 1972, TO REDUCE THE SALES TAX DIVERSION TO MUNICIPALITIES TO 16-1/2% OF THE SALES TAX COLLECTED ON BUSINESS ACTIVITIES WITHIN A MUNICIPALITY UNTIL SUCH TIME AS THE BALANCE IN THE MUNICIPAL SALES TAX DIVERSION LAWSUIT CONTINGENCY FUND REACHES $200,000,000.00; TO PROVIDE THAT 2% OF THE SALES TAX COLLECTED ON BUSINESS ACTIVITIES WITHIN A MUNICIPALITY SHALL BE DEPOSITED INTO THE MUNICIPAL SALES TAX DIVERSION LAWSUIT CONTINGENCY FUND UNTIL SUCH TIME AS THE BALANCE IN THE MUNICIPAL SALES TAX DIVERSION LAWSUIT CONTINGENCY FUND REACHES $200,000,000.00; TO PROVIDE THAT AFTER THE BALANCE IN THE MUNICIPAL SALES TAX DIVERSION LAWSUIT CONTINGENCY FUND REACHES $200,000,000.00 THE SALES TAX DIVERSION TO MUNICIPALITIES SHALL INCREASE TO 18-1/2% OF THE SALES TAX COLLECTED ON BUSINESS ACTIVITIES WITHIN A MUNICIPALITY; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 03/07/00 at 17:42.



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