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| SPONSOR: | Stell | DATE TYPED: | 02/09/01 | HB | 452 | ||
| SHORT TITLE: | Gross Receipts Credit for Certain Hospitals | SB | |||||
| ANALYST: | Eaton | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY01 | FY02 | |||
| $ (4,000.0) | $ (4,400.0) | Recurring | General Fund | |
| $ 0.0 | $ 0.0 | Recurring | Local Govt. | |
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates Senate Bill 191 with a technical correction.
SOURCES OF INFORMATION
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of Bill
This bill provides that a hospital licensed by the Department of Health may claim a credit against gross receipts tax in an amount equal to the state share of 3.275%, leaving local government revenues harmless.
FISCAL IMPLICATIONS
The Taxation and Revenue Department (TRD) estimate that this bill will have a negative impact of the general fund of $4 million in FY02 and $4.4 million for a full year impact.
ADMINISTRATIVE IMPLICATIONS
Some computer reprogramming will be required at the Taxation and Revenue Department. The Department requests a six-month extension of the effective date of this bill which is July 1, 2001.
JBE/ar