Staff Analysis of the Legislation
|
|
This bill enacts the Alternative Homestead Option Sales and Use Tax Act. The proceeds of alternative HOST are used solely to fund a homestead exemption. Approval of the exemption occurs at the time the tax is approved. The voters must also approve the use of excess proceeds which may remain after the exemption is fully funded (in other words, taxes for county purposes have been eliminated). The choices are: 1) a portion to capital outlay projects and the remainder to a county wide millage rollback; or 2) all of the excess proceeds go towards a county wide millage rollback. |
