2002 Session

Budget Amendments - SB29 (Conference Report)

View Budget Item
View Budget Item amendments

Personal Property Tax Relief (language only)

Item 546 #1c

Item 546 #1c

Central Appropriations
Central Appropriations

Page 432, line 35, strike "a sum".
Page 432, line 36, strike "sufficient, estimated at".
Page 432, line 41 after "A.", insert "1."
Page 432, after line 46, insert:
"2. Localities shall be reimbursed at the 70 percent level for the first six months of tax year 2002.
3.  In addition to the amount shown above for the first year, $31,791,152 of the amount shown in the second year was transferred from the second year to the first year, for a total expenditure in the first year of $604,183,666."
Page 433, strike lines 8 through 12.

(This amendment 1) recognizes that the cost of car tax relief in fiscal year 2001 was $31.8 million more than the appropriation and 2) inserts language clarifying that the reimbursement rate for the personal property tax on vehicles shall be 70 percent in tax year 2002. The reference to the first six months indicates the portion of tax year 2002 that falls under the authority of House Bill 29.)