HB 1387 Summary

• Counties and municipalities that adopted a business tax resolution or ordinance before January 1, 2019 may continue levying the tax; all other counties and municipalities may not impose a business tax exceeding $25 per taxpayer.

• Removes authority for counties and municipalities to increase business tax rates or impose additional business taxes beyond existing authorized levels.

• Reduces maximum transfer fees for business receipt transfers from $25 to $10 for both counties and municipalities.

• Removes exemption from apportionment requirements for certain counties that have established new rate structures under section 205.0535.

• Takes effect July 1, 2019.