May 25, 2012
May 15, 2012(Key vote)
Title: Requires Publication of Reduced Tax Rates under the EDGE Program
Vote Smart's Synopsis:
Vote to pass a bill that requires publication of reduced tax rates under the EDGE Program.
Requires any county or municipality that enters into an agreement to share or rebate any portion of retailers' occupation taxes to file a report with the Department of Revenue within 30 days of the agreement (Secs. 10 & 15).
Requires the report to disclose certain details, including, but not limited to, the following (Secs. 10 & 15):
The terms of the tax agreement;
The name of any business that directly or indirectly receives the reduced tax rates; and
How the amount of retailer’s occupation tax being shared, rebated, or refunded is calculated each year.
Requires the Department of Revenue to publish a redacted agreement report on its website no more than 6 months after its receipt (Secs. 10 & 15).