STATEHOUSE (Jan. 26, 2016) – The Ways and Means Committee heard State Rep. John Price’s (R-Bargersville) HB 1192 today which permits the city of Greenwood to implement a food and beverage tax.
“Often minimal tax increases, as proposed in HB 1192, can amount to great financial rewards.” Price said. “By adopting a food and beverage tax rate of no more than 1 percent, the city of Greenwood could obtain a million dollars in food and beverage tax revenue by 2017.”
This legislation clarifies which transactions the food and beverage tax may be applied to and also maintains that the tax rate must not exceed 1%. The revenue gathered from this bill has been calculated to be substantial and advantageous to the Greenwood community.
HB 1192 was approved by the Ways and Means Committee and will now be presented to the House for amendments.
Rep. Price (R-Bargersville) represents portions of Johnson and Morgan counties in central Indiana.