SB1534

THE CONTEXT: Laws 2022, Chapter 321 established the Department of Revenue Integrated Tax System Project Fund (ITSPF) to implement a multi-year integrated tax system modernization project. The fund consists of fees assessed from local governments, a portion of the education sales tax, and a portion of the marijuana excise tax.

WHAT THE BILL DID: The final vetoed version would limits, as session law, the total amount of fees charged for all counties, cities, towns, councils of government and regional transportation authorities to $6,597,200 in FY24 for the ITSPF, limits, as session law, the total amount of transfers from the 0.6% educational sales tax to $800,000 in FY24 for the ITSPF, and limits, as session law, the total amount of transfers from the 16% recreational marijuana tax to $178,100 in FY24 for the ITSPF.

WHY IT MATTERED: The practical reason for this bill was to make the state tax, regulatory, or economic rule for taxation more predictable. It would limits, as session law, the total amount of fees charged for all counties, cities, towns, councils of government and regional transportation authorities to $6,597,200 in FY24 for the ITSPF, and would also limits, as session law, the total amount of transfers from the 0.6% educational sales tax to $800,000 in FY24 for the ITSPF, rather than leave the current rule unchanged.