Mississippi Legislature
2006 Regular Session

House Bill 1265

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Bill Text

History of Actions

Background

Title

Description: Sales tax; additional diversion to municipalities to affect any shortfalls in revenue collected from tobacco tax.

Bill Text: [Introduced]

History of Actions:

1 01/16 (H) Referred To Ways and Means
2 01/31 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2006
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Baker (74th)

Code Sections: A 027-0069-0075, A 027-0065-0075

Title: AN ACT TO AMEND SECTION 27-69-75, MISSISSIPPI CODE OF 1972, AS AMENDED BY SENATE BILL NO. 2310, 2006 REGULAR SESSION, TO PROVIDE THAT THE AMOUNT OF REVENUE FROM THE TOBACCO EXCISE TAX THAT IS DEPOSITED INTO THE MUNICIPAL TOBACCO TAX DIVERSION FUND SHALL BE AN AMOUNT SUFFICIENT TO OFFSET THE MONTHLY AMOUNT OF REVENUE LOST AS A RESULT OF THE REDUCTION IN THE SALES TAX COLLECTIONS FROM RETAIL SALES OF FOOD; TO PROVIDE THAT IN THE EVENT THAT THE REVENUE COLLECTED FROM THE TOBACCO EXCISE TAX IS INSUFFICIENT TO MAKE THE REQUIRED DEPOSITS, THERE SHALL BE AN ADDITIONAL DIVERSION FROM THE TOTAL SALES TAX REVENUE COLLECTED WITHIN ALL MUNICIPALITIES IN THE SPECIFIC SUM NECESSARY TO MAKE THE REQUIRED DEPOSIT INTO THE MUNICIPAL TOBACCO TAX DIVERSION FUND; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/31/06 at 18:07.

End Of Document
2006/pdf/History/HB/HB1265.htm