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AR SB276

Bill

Official Source

Status

Passed

3/29/2011

Primary Sponsor

Larry Teague

Click for details

Origin

Senate

88th General Assembly (2011 Regular)

AI Summary

  • Reduces state sales tax rate on food and food ingredients from 1.875% to 1.375%, effective July 1, 2011
  • Reduces state use tax rate on food and food ingredients from 1.875% to 1.375%, effective July 1, 2011
  • Maintains distribution of collected taxes: 76.6% to general revenues, 8.5% to Property Tax Relief Trust Fund, and 14.9% to Educational Adequacy Fund
  • Declares an emergency citing rising unemployment and increased number of residents unable to afford basic necessities, making the act effective immediately upon passage

Legislative Description

To Amend The State Sales And Use Tax Rate On Food And Food Ingredients And To Declare An Emergency.

Last Action

Senate Notification that SB276 is now Act 755

3/29/2011

Committee Referrals

Revenue and Taxation2/22/2011
Revenue & Taxation2/8/2011

Full Bill Text

No bill text available