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House Bill 1710


House Bill 1710

ARCHIVE (2001)

Latest Information

 

DIGEST OF HB1710 (Updated April 12, 2001 11:05 AM - DI 84)


Wayne County adjusted gross income tax. Allows Wayne County to impose the county adjusted gross income tax at a rate of up to 1.25%. Provides that the county adjusted gross income tax revenue in Wayne County that is derived from the additional tax rate may be used only to pay the costs of constructing, improving, acquiring, renovating, or equipping the county jail and related buildings and parking facilities. Authorizes the county council to pledge the tax revenue from the additional tax rate to pay bonds issued, or leases entered into, for the construction, improvement, acquisition, renovation, or equipping. Specifies that the term of the bonds (including any refunding bonds) or a lease may not exceed 20 years. Provides that any funds accumulated after the redemption of bonds or the final payment of lease rentals shall be transferred to the county highway fund to be used for construction, resurfacing, restoration, and rehabilitation of county highways, roads, and bridges.
Current Status:
 Law Enacted
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