HB 2257 Personal Property Tax Relief Act of 1998; changes in provisions.
Robert B. Bell | all patrons    ...    notes
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Summary as introduced:
Tangible personal property tax relief.  Amends the personal property tax relief program effective January 1, 2006, by establishing a reimbursement ratio to determine each locality's share of the $950 million of total car tax relief. The reimbursement ratio is a fraction (i) the numerator of which is the value of all qualifying vehicles in a locality, up to the first $20,000 of value, multiplied by the effective tax rate in effect in the locality on July 1, 1997, or August 1, 1997, whichever is greater; and (ii) the denominator of which is the aggregate amount of the calculation in (i) for all localities. The bill also provides that reimbursements to localities will be paid in 12 equal monthly installments beginning with the month of May each year, and requires localities to provide, in an equitable manner, personal property tax relief on qualifying vehicles.

Full text:
01/11/05  House: Prefiled & ordered printed; offered 01/12/05 057243232  pdf | impact statement

Status:
01/11/05  House: Prefiled & ordered printed; offered 01/12/05 057243232
01/11/05  House: Referred to Committee on Appropriations
01/18/05  House: Assigned to App. sub-committee: Budget Review
02/02/05  House: Incorporated by App. (HB1654-Lingamfelter) by voice vote