| SB 0861 | Modifies law governing transportation development districts |
| Sponsor: | Johnson | |||
| LR Number: | S3506.01T | Fiscal Note: | 3506-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 07/09/98 - Signed by Governor | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 861 - This act makes two changes to the law on transportation development districts.
SALES TAX - The act sets up an alternate sales tax for transportation development districts in lieu of the existing method. The sales tax may be imposed in an area made up of a city, county or combination thereof. The tax would be collected by the Department of Revenue instead of by the District itself, and deposited in the newly created Transportation Development District Sales Tax Fund. The Department of Revenue would then remit the funds to the district.
MORTGAGES - Districts are prohibited from mortgaging any
property acquired through eminent domain or any property received
from a state agency without that agency's consent.
RUSS HEMBREE