SB944 - Increases sales tax by one quarter percent and puts a surcharge on corporate income to fund education

SB 0944

Increases sales tax by one quarter percent and puts a surcharge on corporate income to fund education

Sponsor:	Goode	Co-Sponsor(s)
LR Number:	3951S.03I	Fiscal Note:	3951-03
Committee:	Education
Last Action:	02/20/02 - Hearing Conducted S Education Committee		Journal page:
Title:
Effective Date:	Contingent

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Current Bill Summary

SB 944 - This act increases the state sales tax by one quarter of one percent. The tax due by a corporation is increased by adding an additional twenty percent charge to the amount owed by a corporation.

The provisions of this act have effect for nine fiscal quarters, beginning on October 1, 2002.

All revenue generated by the act will fund the foundation formula.

This act has a referendum clause and a sunset provision.
JEFF CRAVER