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]
| 1 | 02/21/00 | (S) | Referred To Finance | |
| 2 | 03/07/00 | (S) | Died In Committee |
| Effective date | July 1, 2000 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
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.
End Of Document
2000/html/History/SB/SB3102.htm