HB0107S2001

This amendment allows the legislature to adjust the local government distribution percentage between 5% and 9% of sales and use taxes based on state fiscal conditions, rather than maintaining the fixed 5.6% rate.

• Makes the distribution percentage in subsection (a) subject to potential legislative adjustment under a new subsection (d). (Page 2, line 14)
• Adds new subsection (d) permitting the legislature to adopt an adjustment to the distribution percentage in the biennial or supplemental budget bill after reviewing projected balances of the legislative stabilization reserve account, permanent fund reserve accounts, and consensus revenue estimates. The adjusted percentage must remain between 5% and 9% of sales and use taxes. (Page 13, after line 23)

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