The House is currently discussing HB1006. We'd be paying more attention, but we are just not in the right mindset this afternoon. A tipster tells us this bill "has some feathers ruffled". Here's a segment of it, and let us know if you can translate it:
ROLLBACK RATE = ANY RATE EQUAL TO OR GREATER THAN (EFFECTIVESee what we mean? It's just like algebra, which we barely passed. Where X = why the hell are we even trying to make sense out of this bill?
MAINTENANCE AND OPERATIONS RATE x 1.03 [1.08]) + CURRENT DEBT RATE
- SALES TAX GAIN RATE BUT NOT TO EXCEED (EFFECTIVE MAINTENANCE AND
OPERATIONS RATE x 1.05) + CURRENT DEBT RATE - SALES TAX GAIN RATEwhere "sales tax gain rate" means a number expressed in dollars per
$100 of taxable value, calculated by dividing the revenue that will
be generated by the additional sales and use tax in the following
year as calculated under Subsection (d) [of this section] by the
current total value