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MS SB2126
Bill
AI Summary
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Creates the "ABC Capital Fund" as a special fund in the State Treasury to be used by the Department of Revenue for maintaining the state's liquor distribution operation.
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Directs all annual privilege license taxes from alcoholic beverage permits to be deposited into the ABC Capital Fund rather than other state funds.
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Requires unexpended amounts in the fund to carry over at the end of each fiscal year and allows interest and investment earnings to remain in the fund.
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Amends Section 27-71-29 to transfer responsibility for tax collection and deposit from the State Tax Commission to the Department of Revenue.
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Effective date is July 1, 2014.
Legislative Description
ABC Capital Fund; create to maintain state liquor distribution operation and deposit alcoholic beverage permit fees into it.
Last Action
Died In Committee
2/4/2014