Montana Sales Tax Increase, LR-111 (June 1993)

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The Montana Sales Tax Increase, LR-111 was an legislatively-referred state statute on the June 8, 1993 statewide ballot in Montana, where it was defeated.

Election results

LR-111
ResultVotesPercentage
Defeatedd No228, 58774.5%
Yes 78,349 25.5%

Official results via: The Montana Secretary of State

Text of measure

The text is as follows:

This proposal, submitted by the Legislature for a vote, would reduce income and property taxes and enact a 4% general sales and use tax. Exemptions include: groceries, prescriptions, medical services, tuition, wages, housing payments, utilities, daycare, transportation, and financial services; and exemptions for agriculture, mining, manufacturing, and non-profit organizations. It would set a 6% income tax rate and increase personal exemptions and standard deductions. Property tax reductions include: a $20,000 homeowner exemption, business and utility tax reduction, and reduce levies for school funding. Low-income households and renters would receive refundable tax credits. It would repeal I-105, the property tax freeze.[1]
FISCAL STATEMENT
The proposal would:
1994-95 biennium
impact (in millions)
Impose a 4% general sales tax $310
Reduce individual income taxes (124)
Reduce corporation income taxes (3)
Reduce property taxes (125)
Increase state support of school funding (48)
Increase electrical energy tax revenue 75
Net available to reduce state deficit $85

See also

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External links

References


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