Personal Property Tax Relief

Item 503 #1c

Language
Page 370, line 1, strike "$996,889,232" and insert "$719,889,232".
Page 370, line 5, strike "996,889,232" and insert "719,889,232".
Page 370, strike lines 9 through 11 and insert,
"2.  The amounts appropriated in this item provide for a local reimbursement level of 70 percent in tax years 2004 and 2005.  The local reimbursement level for tax year 2006 is set at $950.0 million pursuant to Senate Bill 5005 of the 2004 Special Session.  Payments to localities with calendar year 2006 car tax payment due dates prior to July 1, 2006, shall not be reimbursed until after July 1, 2006."
Page 370, strike lines 20 through 24.

Explanation
(This amendment reduces the proposed appropriation for the Car Tax Relief program by $277.0 million in general funds in the second year pursuant to Senate Bill 5005 of the 2004 Special Session. Pursuant to the provisions of that legislation, payments for calendar year 2006 will total $950.0 million, with reimbursements being made beginning July 1, 2006.)