- Committee -

SCS/SB 849 - This act gives the State Tax Commission the exclusive power of original assessment of the distributable property of freight line companies and requires the Director of Revenue to collect the taxes on such property. The act creates the County Private Car Tax Trust Fund and requires apportionment of the revenues to each county in proportion to the mainline track mileage located in that county. Prior to distribution of the trust fund amounts to the counties, six-tenths of one percent is required to be transferred to the blind pension fund. Each county is required to apportion 70% of the revenues to the local school districts and the remaining 30% to county general revenue.

RUSS HEMBREE