impose a transaction tax and dedicate revenues collected to supplant certain property taxes, and to provide a penalty therefor.

Summary

SB 243 would levy a tax on most retail sales—$1.50 per transaction of $15 or more, or 10 % of the price for smaller sales—and place the proceeds in a new property‑tax replacement fund. The fund would be used to reduce property taxes on owner‑occupied homes first, then agricultural and other property across all counties. It also adds penalties for late payment or false filings.

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