2003 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Bloxom
Cap PPTRA Expenditures

Item 510 #2h

Item 510 #2h

First Year - FY2003 Second Year - FY2004
Central Appropriations
Central Appropriations FY2003 $0 FY2004 ($72,777,143) GF

Page 475, line 56, strike "$920,689,232" and insert "$847,912,089".
Page 476, line 6, strike "$920,689,232" and insert "$847,912,089".
Page 476, line 11, after "2004.", insert:
"If the Department of Taxation determines that total reimbursements are projected to exceed the appropriation authorized in this item for the second year, reimbursements to localities shall be prorated to ensure that total expenditures do not exceed the authorized amounts."

(This amendment limits expenditures for the reimbursement of localities for personal property tax relief in fiscal year 2004 to the amounts included in the Appropriation Act passed by the 2002 General Assembly.)