Vote Smart's Synopsis:

Vote to pass a bill that allows the governing body of Jefferson County to levy an occupational, license or privilege tax on business transactions previously exempt from these taxes.

Highlights:

-Allows the governing body of Jefferson County to levy an occupational, license or privilege tax on all businesses that were previously exempted from these taxes (Sec. 4). -Limits the maximum rate of tax on any person to the lesser of either .0045 percent of compensation excluding benefits, or .0045 percent of income before taxes, and provides that this rate may not be increased without the approval of the state legislature (Sec. 6). -Applies retroactively to all business transactions from November 29, 1999 onwards (Sec. 7). -Provides that persons already paying license or privilege taxes to the state or Jefferson County shall, on January 1, 2010, cease paying these taxes and instead pay taxes at the rates specified in this bill (Sec. 7). -Requires that all taxes levied under this act be phased out over five years beginning October 1, 2012, unless the taxes are confirmed by a referendum of voters in June of 2012 (Sec. 8).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that allows the governing body of Jefferson County to levy an occupational, license or privilege tax on business transactions previously exempt from these taxes.

Highlights:

-Allows the governing body of Jefferson County to levy an occupational, license or privilege tax on all businesses that were previously exempted from these taxes (Sec. 4). -Limits the maximum rate of tax on any person to the lesser of either .0045 percent of compensation excluding benefits, or .0045 percent of income before taxes, and provides that this rate may not be increased without the approval of the state legislature (Sec. 6). -Applies retroactively to all business transactions from November 29, 1999 onwards (Sec. 7). -Provides that persons already paying license or privilege taxes to the state or Jefferson County shall, on January 1, 2010, cease paying these taxes and instead pay taxes at the rates specified in this bill (Sec. 7). -Requires that all taxes levied under this act be phased out over five years beginning October 1, 2012, unless the taxes are confirmed by a referendum of voters in June of 2012 (Sec. 8).

Full Bill Text