2017 Session

Budget Amendments - SB900 (Committee Approved)

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Revise Sales Tax Transfer for Education (language only)

Item 3-5.03 #1s

Item 3-5.03 #1s

Adjustments and Modifications to Tax Collections
Implementation of Chapter 3, Acts of Assembly of 2004, Special Session I


Page 528, line 32, strike "$374,009,559" and insert "$374,624,502".


(This amendment updates the estimated amount to be transferred to the general fund from the Public Education Standards of Quality/Local Real Estate Property Tax Relief Fund by $280,780 in the second year, due to the impact of Senate Bill 1390. Companion amendments reflect the additional resources and the net additional amount of Direct Aid funding.

This amendment also reflects an additional transfer of $334,163 in the second year, based on additional projected sales tax revenue from tax amnesty. It is the intent that the companion additional $882,189 be added to Direct Aid's 1 and 1/8 cent portion of sales tax, resulting in net additional Basic Aid of $387,498.)