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2002 Session

Budget Amendments - SB30 (Conference Report)

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Freeze Personal Property Tax Relief at 70%

Item 510 #1c

Item 510 #1c

First Year - FY2003 Second Year - FY2004
Central Appropriations
Central Appropriations FY2003 $0 FY2004 ($118,826,165) GF

Language
Page 364, line 28, strike "$966,738,254" and insert "$847,912,089".
Page 364, line 28, strike "a sum sufficient, estimated at"
Page 364, line 31, after "A.", insert "1"
Page 364, line 32, strike"966,738,254" and insert "847,912,089".
Page 364, after line 35, insert:
"2. Localities shall be reimbursed at the 70 percent level for tax year 2002, tax year 2003, and tax year 2004."
Page 364, line 44, strike "sum sufficient".


Explanation
(This amendment captures savings from freezing the car tax relief at the 70 percent level through fiscal year 2004. The amendment also inserts language clarifying that the reimbursement rate shall be 70 percent in tax years 2002, 2003, and 2004.)