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MS HB401
Bill
Status
2/23/2016
Primary Sponsor
Robert Foster
Click for details
AI Summary
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Municipalities would receive an additional 1.5% of sales tax revenue collected from business activities within their boundaries, beginning August 15, 2016, on top of the existing 18.5% allocation
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Counties would receive 1.5% of sales tax revenue collected from business activities occurring outside municipalities but within the county, beginning August 15, 2016
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All funds distributed under these new provisions must be dedicated exclusively to street and road construction, repair, and maintenance, and cannot be counted as general fund revenue
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The Department of Revenue may withhold future payments to municipalities or counties to correct any erroneous disbursements or recover overpayments
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Effective date: July 1, 2016
Legislative Description
Sales tax; increase diversion to municipalities and create diversion to counties, use revenue for street/road improvements.
Last Action
Died In Committee
2/23/2016