Legislative Session number- 81

Bill Name: SF0960

Relating to taxationARTICLE 1 - INCOME TAXESReducing individual income tax rates
and marriage penalties and modifying the brackets, providing for inflation
adjustmentsARTICLE 2 - SALES AND EXCISE TAXESEliminating the accelerated June
payment liability for retailers for sales, liquor and tobacco taxes; exempting
sales to veterans homes and personal property used in the production of
television commercials from the sales tax; repealing the separate sales tax
refund provision for capital equipment ARTICLE 3 - PASSENGER AUTOMOBILE
REGISTRATION TAXImposing a flat motor vehicle registration tax on passenger
automobiles after initial registration; appropriating certain specified amounts
from the general fund to the trunk highway, county state aid highway, municipal
state aid street fund and the flexible highway and the town road and town bridge
accountsARTICLE 4 - AGRICULTURAL ASSISTANCE AND STATE AID REFORMProviding for
certain payments to farmers in 1999 for assistance purposes, specifying certain
qualification requirements and providing for payment, appropriating money to the
commissioner of revenue for the assistance; eliminating certain state payments
or appropriations for certain tax or aid programs and requiring the commissioner
of finance to transfer amounts saved to a newly created transitional aid reform
account(ra)