Committee: State Government | Sponsor: Melson |
Analyst: Vee Mosely | Date: 04/04/2022 |
FISCAL NOTE
Senate Bill 317 as passed the Senate could decrease sales and use tax receipts to the Education Trust Fund, and county and municipal funds annually by an undetermined amount dependent on the amount of gross receipts from purchases made by contractors of an agriculture authority, which are exempted by this bill.
This bill could further decrease county and municipal tax receipts by an undetermined amount dependent upon the amount of 1) sales and use tax receipts collected and remitted to local taxing authorities by certain joint ventures or lessees of agriculture authorities that would be rebated back to the agriculture authority, pursuant to the provisions of this bill, and 2) any other county and municipal taxes, including license and excise taxes, that would have otherwise been paid by an agriculture authority, which are exempted by this bill.
This bill also provides further for the powers of an agricultural board, including conveyance of property, entering into certain contracts, acceptance of lease payments, investing of monies, acquisition of real property, and issuance of bonds.
Chris Pringle, Chair State Government |