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IN HB1130
Bill
Status
1/8/2015
Primary Sponsor
John Price
Click for details
AI Summary
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Authorizes the city of Greenwood's fiscal body to adopt an ordinance imposing an excise tax on food and beverages furnished, prepared, or served for consumption at a retail merchant's location in the city, after holding at least one separate public hearing.
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Tax rate may not exceed 1% of gross retail income from covered food and beverage transactions, excluding state gross retail tax amounts.
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Tax applies to food sold in heated state, food with multiple mixed ingredients, food served off-premises, and food provided with eating utensils; exempts items exempt from state gross retail tax and raw animal foods requiring consumer cooking.
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Revenue must be deposited in a food and beverage tax receipts fund and may be used for property tax levy reduction, economic development, public safety, parks and recreation, or pledged for bonds and other obligations related to these purposes.
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Tax becomes effective the last day of the month following ordinance adoption; taxes are collected using the same methods as state gross retail tax and paid monthly by the state treasurer to the city.
Legislative Description
Greenwood food and beverage tax. Authorizes the city of Greenwood to adopt a municipal food and beverage tax. Provides that the tax rate may not exceed 1%. Specifies the uses to which receipts from the food and beverage tax may be applied.
Last Action
First Reading: referred to Committee on Ways and Means
1/8/2015