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IN HB1136
Bill
Status
1/4/2018
Primary Sponsor
Robert Heaton
Click for details
AI Summary
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Authorizes Vigo County's fiscal body to adopt an excise tax on food and beverage transactions, with a maximum rate of 1% of gross retail income.
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Tax applies to food or beverages furnished, prepared, or served for consumption at a retail merchant's location in the county before January 1, 2044, and is imposed, paid, and collected using the same process as state gross retail tax.
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All tax revenue is deposited into a food and beverage tax receipts fund and distributed to the county's capital improvement board for acquisition, construction, improvement, maintenance, or financing of convention centers and tourism-related facilities constructed after June 30, 2018, or to pay principal and interest on bonds for these purposes.
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Requires the county fiscal body to hold at least one public hearing focused solely on the proposed tax before adoption, and to immediately send a certified copy of any adopted ordinance to the Department of State Revenue.
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Tax expires December 31, 2043, and becomes effective upon passage with an emergency declaration.
Legislative Description
Vigo County food and beverage tax. Authorizes the county council of Vigo County to adopt a county food and beverage tax (tax). Provides that the tax rate may not exceed 1%. Specifies the revenue from the tax shall be distributed to the capital improvement board and may be used by the board only for the following purposes: (1) The acquisition, construction, improvement, maintenance, or financing of a convention center or a facility that is used or will be used principally for convention or tourism related events serving national or regional markets and is constructed after June 30, 2018. (2) A
Last Action
First reading: referred to Committee on Ways and Means
1/4/2018