House Bill 470 Summary

• Creates a sales and use tax exemption for food sold for human consumption, using the federal SNAP program definition and excluding restaurant meals, heated food, mixed ingredients, and food sold with eating utensils.

• Increases the revenue-sharing distribution from 11.5% to 13.3% of sales tax collections, with adjusted percentages for cities (45.2%), counties (47.1%), and special purpose taxing districts (7.7%).

• Repeals Section 63-3024A (food tax credits and refunds) and removes references to the food tax credit from child support law (Section 32-706).

• Modifies the tax relief fund to transfer $110 million annually to the general fund beginning in fiscal year 2023, instead of the previous $110 million amount.

• Establishes effective dates: Sections 3, 5, 6, and 7 effective retroactively to January 1, 2022; Section 1 effective June 1, 2022; Section 2 effective July 1, 2022; Section 4 effective upon passage.