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Latest Update: Saturday, July, 05th 2008
Taxes, Sales - Reduces tax on food and food ingredients from 5.5 percent to 4.5 percent. - Amends amend TCA Title 67, Chapter 6. Fiscal Summary for *HB2603 / SB3394Decrease State Revenue - $86,779,000 Decrease Local Govt. Revenue - $4,177,000 Other Fiscal Impact - In FY09-10, there will be approximately $4,548,000 in forgone state sales tax revenue in addition to the recurring decrease. The extent of forgone revenues will increase in subsequent years due to the natural growth of taxable food sales.
Latest Actions
- 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008
- 04/02/2008 - Placed Behind the Budget
- 03/26/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 04/02/2008
- 02/27/2008 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee
- 02/20/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 02/27/2008
show all actions- 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008
- 04/02/2008 - Placed Behind the Budget
- 03/26/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 04/02/2008
- 02/27/2008 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee
- 02/20/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 02/27/2008
- 01/30/2008 - Assigned to Subcommittee Budget of FW&M
- 01/16/2008 - Passed second consideration, Referred to Finance
- 01/14/2008 - Introduced, Passed first consideration
- 01/10/2008 - Filed for Introduction
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Fiscal Notes
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