NOTE: As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used for other purposes.
The most recent FIR
version (in HTML & Adobe PDF formats) is available on the Legislative
Website. The Adobe PDF version includes
all attachments, whereas the HTML version does not. Previously issued FIRs and attachments may be
obtained from the LFC in
SPONSOR: |
Beam |
DATE TYPED: |
|
HB |
934/aSFl#1 |
||
SHORT TITLE: |
Regional Transit System Gross Receipts |
SB |
|
||||
|
ANALYST: |
Gilbert |
|||||
REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
|
FY03 |
FY04 |
|
|
|
|
|
$0.1
See Narrative |
Recurring |
|
|
|
$0.1
See Narrative |
Recurring |
Municipal
Funds |
(Parenthesis ( ) Indicate Revenue Decreases)
Relates to SB34, SB 420, SB 666, HB 102
LFC Files
Response
Received
Taxation
and Revenue Department (TRD)
SUMMARY
Synopsis of SFl
Amendment
Senate Floor Amendment
#1 to Senate Bill 934 adds an emergency clause to the bill, thus changing the
effective date from
Synopsis of Original Bill
House Bill 934
authorizes (with voter approval) imposition of a municipal or county gross receipts
tax to be used for a regional transit system. This bill depends upon enactment
of a Regional Transit District Act, such as in SB 34 or HB 102.
Significant Issues
HB 934 establishes a
funding mechanism for the Regional Transit District Act. Districts may collect fees, tolls, rates or
charges. State and local law enforcement authorities may enter into traffic and
toll enforcement agreements with districts.
FISCAL IMPLICATIONS
The maximum excise tax
permitted in HB 934 is one-half percent of the gross receipts of any person
engaging in business in the municipality or county and must be in one-sixteenth
percent increments of gross receipts. Revenues generated by this tax shall be
used for the management, construction or operation of a public transit system
or for public transit projects or services in accordance with provisions of the
Regional Transit District Act.
RLG/prr:njw:ls