An Act creating a 'Chapter 62F calculations' study group of fiscal harms caused by excluding new local tax revenue from "allowable state tax revenue" calculations and other such calculations
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes a study group to examine the potential financial consequences resulting from the current practice of excluding new local tax revenue from calculations used to determine ‘allowable state tax revenue.’ The study group will investigate how this exclusion may be causing fiscal harm to local governments. The goal is to analyze the impacts and potentially recommend changes to these calculations.
Key provisions
- Creates a ‘Chapter 62F calculations’ study group.
- The study group will assess fiscal harms.
- The study group will examine the exclusion of new local tax revenue.
- The study group will focus on ‘allowable state tax revenue’ calculations.
- The study group will consider broader calculations impacted by this exclusion.
Who is affected
- Local governments
- State government
- Taxpayers
Notable changes
- The bill aims to re-evaluate how state tax revenue is calculated.
- It seeks to address potential financial disparities between state and local revenue streams.
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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