Establishing a 0% state rate for sales and use taxes for food and food ingredients, providing a sales tax exemption for children's diapers and feminine hygiene products, establishing the STAR bonds food sales tax revenue replacement fund, altering the calculation for STAR bond districts and discontinuing the food sales income tax credit.
Providing for food sales tax revenue replacement for STAR bond districts established prior to December 31, 2022, establishing the STAR bonds food sales tax revenue replacement fund, providing for transfers from the state general fund to such revenue replacement fund and transfers from such revenue replacement fund in the amount of food sales tax revenues lost to the applicable cities or counties and extending the sunset date of the STAR bonds financing act to July 1, 2031.
Decreasing the state rate for sales and use taxes for prepared food and increasing the percent credited to the state highway fund from sales and use tax revenue collected.
To Create The Grocery Tax Relief Act; To Amend The Law Concerning The Sales And Use Taxes Levied On Food And Food Ingredients, As Affirmed By Referred Act 19 Of 1958; And To Exempt Groceries From State Sales And Use Taxes.
To Create The Grocery Tax Relief Act; To Amend The Law Concerning The Sales And Use Taxes Levied On Food And Food Ingredients, As Affirmed By Referred Act 19 Of 1958; And To Exempt Groceries From State Sales And Use Taxes.