2002 Session

Budget Amendments - HB30 (Conference Report)

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CAR Tax Forecast Reporting (language only)

Item 284 #3c

Item 284 #3c

Taxation, Department of

Page 213, after line 43, insert:
"The Secretary of Finance and the Commissioner of the Department of Taxation shall report to the Chairmen of the Senate Finance and House Appropriations Committees by November 1 of each year on the actual and projected disbursements under the Commonwealth's Personal Property Tax Relief (PPTR) Act program.  Such report shall include the actual reimbursements by locality from the program through the most recent fiscal year, its variance from the official estimate, and the projected disbursements by locality for the upcoming three fiscal years and tax years.  In addition, the report shall also include the methodology used in developing the projection for the upcoming three fiscal years and such other data as may be requested."

(This amendment moves existing language from DMV to the Tax Department as a result of the moving the PPTRA function to the Tax Department.)