Bill Title: Local income tax distributions. Provides for a supplemental distribution of local income taxes when the balance in a county's local income tax trust account exceeds 15% (rather than 50%, under current law) of the certified distributions to be made to the county. Specifies the accounting, allocation method, and distribution requirements for supplemental distributions. Requires before May 2016 a one time special allocation of the balance in a county's trust account as of December 31, 2014. Provides that a taxing unit's allocation amount is to be determined in the same manner as a supplemental distribution would have generally been determined under

Spectrum: Strong Partisan Bill (Republican 30-3)

Status: (Passed) 2016-03-23 - Public Law 126 [SB0067 Detail]

Text: Latest bill text (Enrolled) [PDF]

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