| SB 0970 | Changes a provision concerning the percentage of ad valorem tax collections to be put in county assessment funds |
| Sponsor: | Childers | |||
| LR Number: | 3518S.01I | Fiscal Note: | 3518-01 | |
| Committee: | Economic Development, Tourism & Local Government | |||
| Last Action: | 02/04/04 - SCS Voted Do Pass S Economic Development, Tourism & | Journal page: | ||
| Local Government Committee 3518S.03C | ||||
| Title: | ||||
| Effective Date: | August 28, 2004 | |||
SCS/SB 970 - This act provides that in any county which
becomes a first classification county after September 1, 1996
and Jasper County, 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.
Currently, the law provides for such counties which become
first classification counties after September 1, 1998 (Section
137.721).
SUSAN HENDERSON