H04702022 Regular Session
Amends, adds to, and repeals existing law to exempt sales of food from sales tax, to increase revenue sharing, to repeal the grocery income tax credit, and to provide for a distribution of moneys from the Tax Relief Fund.
TAXATION -- Amends, adds to, and repeals existing law to exempt sales of food from sales tax, to increase revenue sharing, to repeal the grocery income tax credit, and to provide for a distribution of moneys from the Tax Relief Fund.
TAXATION
STATEMENT OF PURPOSE
This legislation repeals the sales tax on groceries using the definition of food employed by the Supplemental Nutrition Assistance Program (SNAP) and ends the grocery tax credit. It increases the revenue sharing to local governments to prevent an impact on property taxes. It uses funds available in the Tax Relief Fund to partially offset the impact to the General Fund.
LATEST ACTION
Reported Printed and Referred to Ways & Means