HB650 Summary

• Jefferson County Commission gains authority to levy additional taxes including sales and use taxes, lease and rental taxes, excise taxes, alcoholic beverage taxes, and privilege license taxes, subject to state constitutional and general law limitations.

• Revenue Target is set at $50,000,000 for the first full fiscal year if no new business license tax is authorized by the Legislature, or $43,000,000 if a new business license tax is authorized and collected by the county.

• County Commission must adopt any tax ordinance with affirmative vote of at least two-thirds of members, post the proposed ordinance on the county website for at least 15 days, and hold a public hearing with at least 15 days' notice before implementation.

• If net revenues exceed the Revenue Target plus 5% in the first fiscal year, excess amounts must be used exclusively for debt service on general obligation indebtedness; after the first year, excess revenues inure to the general fund.

• County Commission's authority to levy these additional taxes terminates at midnight on December 31, 2012, unless explicitly extended by the Legislature, though previously levied taxes may continue to be collected and administered.