IN HB1096

Hancock County fiscal body may adopt an ordinance imposing an excise tax on food and beverages furnished, prepared, or served for consumption at a retail merchant's location within the county.

Tax rate must be imposed in increments of 0.25% and cannot exceed 1% of gross retail income from qualifying food and beverage transactions.

County fiscal body must hold at least one separate public hearing focused solely on the proposed tax before adoption, and must send a certified copy of any adopted ordinance to the department of state revenue.

Tax revenue must be deposited into a food and beverage tax receipts fund and used only for county fairground construction/renovation/maintenance, public safety, or pledging money for bonds and leases related to these purposes.

Tax is imposed, paid, and collected using the same procedures as the state gross retail tax, and the general assembly covenants not to repeal or adversely amend this chapter while obligations pledging such revenue remain outstanding.