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. |