Post by Logan on May 2, 2016 23:44:43 GMT -6
Jacksonville City Council Finance Committee approves August vote on pension tax
A referendum on a half-cent sales tax to help pay down Jacksonville’s massive pension debt got approval Monday from a City Council committee after a discussion that left some big questions unanswered.
The Finance Committee voted 7-0 for legislation that would put the tax on the Aug. 30 ballot. The full City Council will vote on the bill next week.
The pension-funding sales tax would not start until after the Better Jacksonville Plan’s half-cent sales tax expires in 2030. Mayor Lenny Curry and his top administrators have said the city could reap the benefits of the sales tax as soon as 2018 by freeing up tens of millions of dollars now going toward pension costs. But Curry hasn’t said exactly how the city could accomplish that, and the discussion Monday at the Finance Committee provided no new details.
City Councilman Tommy Hazouri pressed Monday for an explanation of how the sales tax revenue collected after 2030 would result in budget relief in the coming years. He said constituents are asking him that question, and the city needs to have an answer in “clear, understandable language.”
Read more: jacksonville.com/news/metro/2016-05-02/story/city-council-finance-committee-approves-august-vote-pension-tax#
A referendum on a half-cent sales tax to help pay down Jacksonville’s massive pension debt got approval Monday from a City Council committee after a discussion that left some big questions unanswered.
The Finance Committee voted 7-0 for legislation that would put the tax on the Aug. 30 ballot. The full City Council will vote on the bill next week.
The pension-funding sales tax would not start until after the Better Jacksonville Plan’s half-cent sales tax expires in 2030. Mayor Lenny Curry and his top administrators have said the city could reap the benefits of the sales tax as soon as 2018 by freeing up tens of millions of dollars now going toward pension costs. But Curry hasn’t said exactly how the city could accomplish that, and the discussion Monday at the Finance Committee provided no new details.
City Councilman Tommy Hazouri pressed Monday for an explanation of how the sales tax revenue collected after 2030 would result in budget relief in the coming years. He said constituents are asking him that question, and the city needs to have an answer in “clear, understandable language.”
Read more: jacksonville.com/news/metro/2016-05-02/story/city-council-finance-committee-approves-august-vote-pension-tax#