This amendment creates a new local government distribution account with a specific monthly allocation formula for distributing sales and use taxes to cities, towns, and counties based on per capita sales tax revenues, assessed values, and population.
- Removes the word 'rates' from the catch title and adds language specifying that the amendment revises the formula for distribution of sales and use taxes. (Page 1, lines 1-4)
- Creates W.S. 39-15-111.1, establishing a new local government distribution account that receives the first $6,093,750 each month from available sales and use tax collections, with distributions made semi-annually on March 15 and October 15. (Page 1, lines 6-41)
- Establishes distribution percentages from the local government distribution account: 89% of funds split between cities/towns (2/3) and counties (1/3), plus an additional 5.5% each to cities/towns and counties, with 5% of city/town allocations reserved for revenue-challenged municipalities. (Page 1, lines 31-9 (Page 2))
- Creates a municipal supplemental funding formula for cities and towns based on a combination of per capita sales and use tax revenues (75% weighting) and per capita assessed value (25% weighting), with minimum distributions of $7,500 for municipalities with 35 or fewer residents and $17,500 for larger municipalities. (Page 2, lines 13-38)
- Establishes a revenue-challenged formula for cities and towns that identifies municipalities receiving below the lowest quartile per capita amount and distributes available funds on a pro rata basis to bring those municipalities up to the lowest quartile threshold. (Page 3, lines 40-32 (Page 4))
- Creates a county supplemental funding formula based on per capita sales and use tax revenues (24% weighting), per capita assessed value (76% weighting), and a cost of government index, with a minimum distribution for counties with assessed values below $300,000 per mill. (Page 4, lines 36-29 (Page 5))
- Specifies that population for distribution purposes is determined by the most recent decennial federal census as reported by the economic analysis division. (Page 5, lines 31-34)
- Provides for annual inflation adjustment of the $6,093,750 monthly allocation amount using the Consumer Price Index. (Page 5, lines 36-41)
- Renumbers the existing Section 1 in the parent bill to Section 2 due to the insertion of the new section. (Page 1, line 43)
- Replaces references to the one percent deduction language in W.S. 39-15-111(b)(iii) with a reference to the new monthly deposit process specified in W.S. 39-15-111.1 for the local government distribution account. (Page 2, lines 14-4 (Page 3))
- Replaces references to the one percent deduction language in W.S. 39-16-111(b)(iii) with a reference to the new monthly deposit process specified in W.S. 39-15-111.1 for the local government distribution account. (Page 4, lines 16-11 (Page 5))
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