| SB 0016 | Allows first class counties to retain a larger percentage of a portion of the assessed valuation |
| Sponsor: | Childers | |||
| LR Number: | 0234L.03T | Fiscal Note: | 0234-03 | |
| Committee: | Economic Development, Tourism & Local Government | |||
| Last Action: | 07/01/03 - Signed by Governor | Journal page: | ||
| Title: | HCS SCS SB 16 | |||
| Effective Date: | August 28, 2003 | |||
HCS/SCS/SB 16 - This act provides that in any county which
becomes a first classification county after September 1, 1998,
one percent of all ad valorem taxes allocable to the county and
each taxing authority in the county shall be deducted from taxes
collected on the first five hundred million dollars of assessed
valuation. The one-percent fee will be assigned among the
political subdivisions. Beyond the five hundred million dollars
of assessed valuation the amount of the deduction shall be one
half of one percent, consistent with the current law.
JEFF CRAVER