Local Business Taxes stalled in committee
Friday, January 27, 2012
HB 1063 (Rep. O’Toole) and SB 760 (Sen. Hays) dealing with the proposed repeal of local government authority to levy Local Business Taxes were both heard in committee meetings this week. FAC is opposed to the bill on the grounds that it preempts the ability of counties to manage their own economic development investment revenues.
SB 760 was heard in the Senate Community Affairs committee on Monday, January 23, 2012. The bill was temporarily postponed before a committee vote could be recorded. The bill has been placed on the agenda again for the same committee during the Monday, January 30, 2012 committee meeting.
HB 1063 was heard in the House Finance and Tax Committee on Thursday, January 26, 2012. As with the senate version, the bill was temporarily postponed on an indefinite basis and FAC is hopeful it will not be heard again during this legislative session.
For more information please contact FAC’s Finance and Tax Advocate Davin Suggs.
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