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]
| 1 | 01/16 (H) Referred To Ways and Means | |
| 2 | 01/31 (H) Died In Committee |
| Effective date | July 1, 2006 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
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.
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2006/html/History/HB/HB1265.htm