HI SB2695

Repeals the ten percent deduction that the State previously retained from county surcharge revenues on state taxes to reimburse administrative costs.

Changes the director of finance's authority to deduct a fixed percentage and instead allows deduction of actual costs of assessment, collection, and disposition of the county surcharge on state tax incurred by the State.

County surcharges on state tax collected by the director of taxation continue to be paid into the state treasury quarterly within ten working days after collection and placed in special accounts.

Amounts retained by the State from county surcharge deductions remain general fund realizations of the State.

Takes effect upon approval.