Legislation to give local communities the option to place an additional sales tax of up to one percent on the ballot for voter approval was filed Tuesday as House Bill 2 by House Speaker Greg Stumbo, Republican Leader Jeff Hoover and others.
The proposal would allow local governments to use the additional sales tax to pay for voter approved local investments. When the projects are finished, that tax increase goes away. Local option sales tax legislation, also known as LIFT, is backed by the Kentucky Chamber.
“The Kentucky Chamber strongly supports the LIFT initiative and is encouraged by its progress. The business community urges the legislature to bring this bipartisan piece of legislation to a vote to provide citizens the opportunity to approve important investments and economic development in their communities,” Kentucky Chamber President and CEO Dave Adkisson said.
The legislation will require a two thirds majority in each chamber to get through as it is a constitutional amendment. Learn much more about the issue of local option sales tax including how it works and a list of supporters, visit the LIFT Kentucky website here.
LIFT was filed during the 2015 session by Stumbo, Hoover, and other members of House leadership as House Bill 1. The bill passed the full House but was not heard in the Senate.
The Kentucky Chamber of Commerce will monitor the progress of the legislation and post updates on Bottom Line.
See where Governor Matt Bevin stands on the issue in the Kentucky Chamber’s 2015 Voter’s Guide.
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