1996 Regular Session

SENATE BILL 626

File Code: Taxes - Sales and Use
Sponsored By:
Senators Cade, Derr, Hafer, Craig, Hogan, and Ruben
Entitled:
Sales and Use Tax - Permanent Seat Licenses

Synopsis:

Including within the definition of tangible personal property for purposes of the sales tax a permanent seat license (PSL) for a seat at a professional sports stadium for which State moneys have been used for improvements; imposing the tax at a rate of 10% for the first retail sale and 5% for subsequent sales; distributing the sales tax revenue from the first retail sale of PSLs to a specified account to offset the State's costs for construction of the stadium for which the PSLs are sold; etc.

Legislative History

Senate Action
2/2
First Reading Budget and Taxation
2/21
Hearing 3/8 at 12:00 p.m.
3/20
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator John A. Cade, District 33
Senator David R. Craig, District 34
Senator John W. Derr, District 3
Senator John J. Hafer, District 1
Senator Patrick J. Hogan, District 39
Senator Ida G. Ruben, District 20
Bill indexed under the following Subjects:
CONSTRUCTION
LICENSES - GENERAL
PERSONAL PROPERTY
SALES AND USE TAX
SPORTS -see also- RECREATION
Stadiums
Bill affects the following Statutes:
Tax - General
( 2-1303 , 4-101 , 11-101 , 11-104 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None available