HB770: Income tax, state; distribution of revenues to localities.

Chief Patron

Del. Mark Sickles (D-43)

Status

Bill is Dead

View Entire History

Summary

Income tax; distribution of revenues to localities.  Requires the transfer of 1% of individual income tax revenues to localities in 2006, and the amount increases 1% each year until it reaches a maximum of 5% for 2010 and thereafter. The revenues are distributed to counties and cities as follows: (i) 50% based on the relative share of the total state income tax paid by taxpayers filing returns in each locality, (ii) 40% based on where wages are earned, and (iii) 10% divided equally among all counties and cities.   View Full Text »