2024 Session

Budget Amendments - HB30 (Conference Report)

View Budget Item
View Budget Item amendments

Operating Support for Bank Franchise Tax Implementation

Item 258 #3c

Item 258 #3c

First Year - FY2025 Second Year - FY2026
Department of Taxation FY2025 $488,494 FY2026 $76,348 GF
FY2025 3.00 FY2026 3.00 FTE

Page 279, line 3, strike "$67,280,233" and insert "$67,768,727".
Page 279, line 3, strike "$67,280,233" and insert "$67,356,581".


(This amendment provides $488,494 the first year and $76,348 the second year from the general fund for administrative costs incurred by the Department of Taxation in support of legislation passed by the 2023 General Assembly related to the Bank Franchise Tax. A companion amendment to House Bill 29 provides funding in the current year for immediate work needed to effectuate the purposes of the law change.)