2015 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Wagner
Accelerated Sales Tax (language only)

Item 3-5.07 #1s

Item 3-5.07 #1s

Adjustments and Modifications to Tax Collections
Accelerated Sales Tax

Page 514, line 25, strike "$2,500,000" and unstrike "$26,000,000".
Page 514, unstrike lines 27 through 33.

(This amendment restores language related to the Accelerated Sales Tax to that which was adopted in Chapter 3, 2014 Special Session I, making the threshold for payment $26.0 million or more in taxable sales for the first year and $48.5 million or more in taxable sales for the second year. The amendment also restores language stating the intent of the General Assembly that the accelerated sales tax payment should continue to be reduced and fully eliminated not later than June 2021. A companion amendment to the revenue page reduces GF revenue by $39.2 million in FY 2015 and $18.6 million in FY 2016, for a biennial reduction of $57.8 million.)