House Bill 1337
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DIGEST OF INTRODUCED BILL
County option gross retail tax. Provides that a county fiscal body may impose a county option gross retail tax of up to 1% on retail transactions in the county. Provides that county option gross retail tax revenue must be used for: (1) certified shares; and (2) property tax replacement credits; for the county and cities and towns located in the county. Provides that certified shares may be used for any lawful purpose. Allows the county fiscal body to determine the proportion of county option gross retail tax revenue that is allocated for use as certified shares and property tax replacement credits.
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