1999 Session

Budget Amendments - SB800 (Conference Report)

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State Sales Tax Revenue to Suffolk (language only)

Item 282 #2c

Item 282 #2c

Accounts, Department of

Page 229, after line 57, insert:
"3.  There is hereby appropriated for payment to the City of Suffolk from the subprogram Remittance of Sales Tax Revenues from Public Facilities a sum sufficient, equal to the state sales and use tax revenues the city would be entitled to from the passage of House Bill 1785 and Senate Bill 790 by the 1999 General Assembly."

(This amendment entitles the City of Suffolk to state sales tax revenues generated from transactions at a new conference center and hotel owned by the city, consistent with the intent of House Bill 1785 and Senate Bill 790 passed by the 1999 General Assembly. The tax revenues would be used to repay the bonds issued by the City of Suffolk for the project. While no actual sales tax revenues would be lost from the general fund this biennium, the language will allow the appropriate amounts to be included in the introduced budget for the next biennium.)