|SB 6093 - DIGEST|
Establishes the restore school funding through property tax fairness act of 2015.
Levies a tax at the rate of one dollar per one hundred dollars of the fair market value of all intangible property owned by an individual resident in this state.
Prohibits a county or municipality of this state from levying an ad valorem tax on intangible property.
Requires all revenues collected by the department of revenue under this act to be deposited into the general fund.
Declares an intent to ensure that the majority of funds generated by this act are devoted to public schools.
Provides for submission of this act to a vote of the people.