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House Bill 1448


House Bill 1448

ARCHIVE (2005)

Latest Information

 

DIGEST OF INTRODUCED BILL


County property tax replacement tax. Allows a county council to impose a property tax replacement income tax for the county. Provides that the tax may not exceed 0.75% of adjusted gross income. Allows the county council to use 67% of the revenues from the tax for property tax replacement credits, 20% for the purposes of the county general fund, and 13% either for budgetary expenditures of cities and towns in the county or additional property tax relief. Provides that the property tax replacement credits are to be applied before the application of state homestead or state property tax replacement credits.
Current Status:
 In Committee - first House
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