Signed by Governor Mark Parkinson

Vote Smart's Synopsis:

Vote to pass a bill that amends tax regulations.

Highlights:

-Establishes rates for the sales tax and the use tax and specifies the percentage of revenue generated by the two taxes to be credited to the state highway fund, according to the following rules (Sec. 2-3):

-From July1, 2010 through June 30, 2011 the sales tax will be 6.3 percent and 11.427 percent of the total sales tax revenue be credited to the state highway fund; -From July1, 2011 through June 30, 2012 the sales tax will be 6.3percent and 11.26 percent of the total sales tax revenue to be credited to the state highway fund; -From July1, 2012 through June 30, 2013 the sales tax will be 6.3 percent and 11.233 percent of the total sales tax revenue to be credited to the state highway fund; and -From July 1, 2013 until further notice the sales tax will be 5.7 percent and 18.421 percent of the total sales tax revenue to be credited to the state highway fund.

-Requires revenue from the sales tax and compensating tax on water, gas, electricity and heat to be deposited in the state highway fund according to the following rules (Sec. 2, 4):

-Applies to taxes collected in the area in Johnson county enclosed by Waverly Road on the east, 191st Street on the south, Four Corners Road on the west, and Highway 56 on the north; -Applies to taxes collected in the area in Johnson county enclosed by Poplar Road on the east, 183rd Street on the south, Waverly Road on the west and the BNSF mainline track on the north; -To begin no later than December 31, 2010 and to end December 31, 2045 or sooner if the tax revenue reaches $53.3 million; -For the purpose of building a new facility to manage railway and trucking freight operations; and -Specifies that any tax exemption in the tax code that applies to the sale of water, gas, electricity or heat will be suspended for the stated areas while this provision is in effect.

-Specifies that a claimant is anyone who files for a tax refund or credit who either has a disability, is 55 years old or older, or has 1 or more dependents living with them, and who makes no more than $35,000 a year (Sec. 6). -Specifies the amount that can be claimed as a refund on taxed food purchases as follows (Sec. 7):

-$90 for each member of a household in which the claimant makes $17,500 or less each year; and -$45 for each member of a household in which the claimant makes between $17,500 and $35,000 each year.

-Limits the percentage of yearly income credit that can be used against an individual's federal tax liability to 18 percent for 2010-2012 and 17 percent for 2013 and until further notice (Sec. 10).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends tax regulations.

Highlights:

-Establishes rates for the sales tax and the use tax and specifies the percentage of revenue generated by the two taxes to be credited to the state highway fund, according to the following rules (Sec. 2-3):

-From July1, 2010 through June 30, 2011 the sales tax will be 6.3 percent and 11.427 percent of the total sales tax revenue be credited to the state highway fund; -From July1, 2011 through June 30, 2012 the sales tax will be 6.3percent and 11.26 percent of the total sales tax revenue to be credited to the state highway fund; -From July1, 2012 through June 30, 2013 the sales tax will be 6.3 percent and 11.233 percent of the total sales tax revenue to be credited to the state highway fund; and -From July 1, 2013 until further notice the sales tax will be 5.7 percent and 18.421 percent of the total sales tax revenue to be credited to the state highway fund.

-Requires revenue from the sales tax and compensating tax on water, gas, electricity and heat to be deposited in the state highway fund according to the following rules (Sec. 2, 4):

-Applies to taxes collected in the area in Johnson county enclosed by Waverly Road on the east, 191st Street on the south, Four Corners Road on the west, and Highway 56 on the north; -Applies to taxes collected in the area in Johnson county enclosed by Poplar Road on the east, 183rd Street on the south, Waverly Road on the west and the BNSF mainline track on the north; -To begin no later than December 31, 2010 and to end December 31, 2045 or sooner if the tax revenue reaches $53.3 million; -For the purpose of building a new facility to manage railway and trucking freight operations; and -Specifies that any tax exemption in the tax code that applies to the sale of water, gas, electricity or heat will be suspended for the stated areas while this provision is in effect.

-Specifies that a claimant is anyone who files for a tax refund or credit who either has a disability, is 55 years old or older, or has 1 or more dependents living with them, and who makes no more than $35,000 a year (Sec. 6). -Specifies the amount that can be claimed as a refund on taxed food purchases as follows (Sec. 7):

-$90 for each member of a household in which the claimant makes $17,500 or less each year; and -$45 for each member of a household in which the claimant makes between $17,500 and $35,000 each year.

-Limits the percentage of yearly income credit that can be used against an individual's federal tax liability to 18 percent for 2010-2012 and 17 percent for 2013 and until further notice (Sec. 10).

Full Bill Text