The Senate version of the Department of Revenue (DOR) request bill establishing standards for local notifications of sales tax rate changes and annexations (SB 5315) is scheduled for a hearing.
HB 1126 passed out of the House Finance Committee on January 23.
Date to remember
SB 5315 is scheduled for a hearing in the Senate Local Government Committee on Monday, January 27 at 1:30 pm.
Local tax rate change notification requirements
January 17, 2025
A bill to standardize notice of local sales tax rate changes and annexations for Department of Revenue (DOR) administered taxes is agency-request legislation. HB 1126/SB 5315 would require written notice of local tax rate changes to include a signed copy of the ordinance or resolution adopting the change. Annexation notifications must include a copy of the ordinance, a map of the annexation area, and a list of annexed parcel numbers. Under current law, local tax rate changes take effect at least 75 days after DOR receives notice and may only take on the first day of the quarter on January 1, April 1, or July 1.
The bill would also require public facilities districts that levy local sales taxes that are credited against the state sales tax to notify DOR of the date the bonds will be retired 75 days before retiring bonds associated with the sales tax revenues.
Date to remember
HB 1126 is scheduled for a hearing in the House Finance Committee on Tuesday, January 21 at 8 am.