Senate Bill S7834

                                
 
BILL NUMBER: S7834

SPONSOR: TEDISCO
 
TITLE OF BILL:

An act to amend the tax law, in relation to extending the authorization
of the county of Hamilton to impose an additional one percent of sales
and compensating use taxes

 
PURPOSE:

To extend, for another two years, the authority of Hamilton County to
impose an additional sales and use tax of one percent.

 
SUMMARY OF PROVISIONS:

Section 1210 of the Tax Law is amended to extend, until November 30,
2023, the authority of Hamilton County to impose a sales and use tax
which is one percent additional to the three percent rate that is gener-
ally authorized by state law.

              

 
EXISTING LAW:

Section 1210 of the Tax Law currently authorizes Hamilton County to
impose the additional one percent sales and use tax until November 30,
2020.

 
JUSTIFICATION:

In 2013, the Hamilton County Board of Supervisors requested legislation
to impose an additional 1% sales tax in order to help diversify its
revenue sources and thereby help alleviate the property tax burden.
Hamilton County was one of the last counties in the State to authorize
this additional amount. Much of the County's economic activity comes
from tourism, and sales tax revenue is an extremely important part of
the County's budget.

This authority was initially granted for two years, renewed biannually;
and in 2017, extended for three years. Because these revenues are a
necessary part of the County's financial plan, this bill would extend -
for another two years the authority of Hamilton County to impose this
additional sales tax.

 
FISCAL IMPLICATIONS:

None to the State.

 
LOCAL FISCAL IMPLICATIONS:

This bill will continue the current level of local sales tax revenue
received by Hamilton County.

 
EFFECTIVE DATE:
Immediate.