SB1310 - VOTER SALES TAX OPTION

Recommendation:

That the City Council authorize a letter of support for SB1310 and direct staff to follow the bill and express the City's support when appropriate during the legislative process.

Background:

I have attached the proposal that would allow the voters in a jurisdiction to reduce the states sales tax rate by 1% and establish a new 1% rate for cities and counties. The overall rate would remain the same, the City would receive the 1% rate based on population. This would be a significant source of revenue after the 5 year phase in period.

The City of Covina is leading this effort and needs as much support as possible.