A tax proposal
unveiled June 12 would double the cost of one-time truck trailer
registration fees in the state for the 2003 fiscal year. The proposal
also would increase the corporate income tax, as well as the cost
of cigarettes and beer.
Buck (D-Dowelltown) and Sen. Doug Jackson's (D-Dickson) proposed
tax hike would increase the current fee from $50 for the life
of a truck trailer to $100 for the next fiscal year. "It
has a 12-month sunset, so at the end of the next fiscal year,
it automatically goes back to the $50 one-time fee," Sen.
Jackson told Land Line. "It's an automatic sunset requiring
no other vote."
The tax plan
requires a three-fifths majority of Assembly members' approval
for passage. Rep. Buck and Sen. Jackson have introduced HB2569
and SB2829 in their respective houses. The legislative session
is scheduled to end June 30.