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DIGEST OF INTRODUCED BILL
Elimination of property taxes. Eliminates all ad valorem property taxes. Reduces the state adjusted gross income tax. Requires the reduction of county adjusted gross income taxes, county option income taxes, and county economic development taxes to eliminate the part raised to provide property tax replacement credits or homestead credits. Provides for: (1) the implementation of a local residential income tax, a local fire and safety benefit tax, a state business activity tax, and a state employment location tax; and (2) the use of utility receipts taxes to replace revenue lost to political subdivisions from the elimination of property taxes. Increases the state gross retail and use tax. Makes other changes. Makes an appropriation.