local excise taxes; rate limit

Summary

The bill would cap any transaction privilege or excise tax that a city or town with 550,000 or more residents can levy at 2.5% per tax classification. A higher rate could be used only if voters approve it in an even‑year consolidated election. Cities that exceed the limit would face a withholding of state‑shared revenue until the violation is fixed.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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