Bill No.: SF0067                  Drafter:  MQ

 

LSO No.:  05LSO-0249              Effective Date:  7/1/2005

 

Enrolled Act No.:  SEA0035

 

Chapter No.:       94

 

Prime Sponsor:     Senator Case

 

Catch Title:       Specific purpose tax-collections.

 

Subject:  Provides for the minimization of excess tax collections under the specific purpose excise tax.

 

Summary/Major Elements:

 

·        Under current law, a county may impose an optional sales/use excise tax for a specific amount to be used for a specific purpose (old reference was the capital facilities tax).

 

·        This law requires a county treasurer to consult with the department of revenue to estimate the point in time in which to terminate the tax to minimize excess collection.

 

·        The county treasurer is to make his best effort to ensure that sufficient money is collected while minimizing excess collection.