Staff Analysis of the Legislation
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This bill makes several changes to LOST, one of which is contingent upon a constitutional amendment (HR 1344). First, the bill provides that if LOST is discontinued as a result of failure to file a new or revised distribution certificate with the state revenue commissioner, the question of reimposing LOST, or, the question of imposing HOST, cannot be submitted to the voters until five years have elapsed. Second, and contingent upon HR 1344, the bill provides that if LOST is discontinued as a result of failure to file a new or revised distribution certificate with the state revenue commissioner, the board of education can levy the new Second ESPLOST. Third, if LOST is allowed to expire as noted above, all LOST proceeds in the hands of the state revenue commissioner escheat to the state and will not be distributed to the county and qualified municipalities.
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