Bill Title: Property taxes and sales and use taxes. Eliminates property taxes on primary residences (homesteads) and business personal property. Decreases the state sales and use tax rate from 7% to 5.5%. Provides that the sales and use tax applies to transactions involving services, except for legal services, health or mental health services (including insurance premiums for policies covering these services), and services provided for charitable tax exempt purposes. Deposits the increased sales and use tax revenue in the state general fund. Provides an annual state distribution to offset the property tax elimination for homesteads and business personal property based on the

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2015-01-20 - First Reading: referred to Committee on Tax & Fiscal Policy [SB0560 Detail]

Text: Latest bill text (Introduced) [PDF]

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