2003 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Byron
Fewer Businesses Subject to Sales Tax Acceleration (language only)

Item 4-12.00 #7h

Item 4-12.00 #7h

Effective Date
Effective Date

Page 612, line 16, strike "$1,300,000" and insert "$5,000,000".

(This amendment increases the amount of taxable sales and purchases under which a dealer would be subject to accelerated sales tax collection. A companion amendment in Item 0 (Revenues) shows the fiscal impact on the current budget - a downward revision of the fiscal year 2003 general fund revenue estimate of $28.8 million. This includes $24.6 million related to the three cent state sales tax and $4.2 million related to the Transportation Trust Fund portion of sales tax.)