HS HCS HB 1392 -- SCHOOL DISTRICT TAX ALTERNATIVES (Davis)

This substitute allows school districts to adopt by voter
approval a personal income tax, which would be a surcharge on
state personal income tax of up to 15%.  The school district must
specify the purpose of the tax and the period of time for which
the tax will be imposed, not to exceed three years.  At least one
year must elapse before a vote for another surcharge becomes
effective, and a period of 10 months must elapse between a failed
tax issue and its resubmission to the voters.  Moneys raised by
the tax would not be used in calculating a district's state
school aid.  A $50 penalty for wrong or missing school district
information on a tax return may be imposed in the second and
third year of the tax.  The substitute contains technical
provisions for the handling and transfer of funds and for the
conduct of the elections.

FISCAL NOTE:  Estimated Net Effect on General Revenue Fund of a
Cost of Unknown to an Income of $6,798,497 in FY 2003, a Cost of
Unknown to an Income of $14,460,000 in FY 2004, and a Cost of
Unknown to an Income of $15,030,000 in FY 2005.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:01 am