HOUSE FLOOR AMENDMENT
FLOOR AMENDMENT NO. Date
Section 1. S.B. 1396, S.D. 3, H.D. 3, C.D. 1, is amended by page 15, line 9 through page 16, line 11, to read as follows:
"3. By amending subsection (e) to read:
"(e)
Notwithstanding the tax rates established in subsections [(a)(5)] (a)(6)
and [(c)(3),] (c)(4), the tax rates levied, assessed, and
collected pursuant to subsections (a) and (c) shall be [10.25] eleven
per cent for the period beginning on January 1, 2018, to December 31, 2030;
provided that:
(1) The tax revenues levied,
assessed, and collected pursuant to this subsection that are in excess of the
revenues realized from the levy, assessment, and collection of tax at the [9.25]
ten per cent rate shall be deposited quarterly into the mass transit
special fund established under section 248-2.7; and
(2) If a court of competent jurisdiction determines that the amount of county surcharge on state tax revenues deducted and withheld by the State, pursuant to section 248-2.6, violates statutory or constitutional law and, as a result, awards moneys to a county with a population greater than five hundred thousand, then an amount equal to the monetary award shall be deducted and withheld from the tax revenues deposited under paragraph (1) into the mass transit special fund, and those funds shall be a general fund realization of the State.
The remaining tax
revenues levied, assessed, and collected at the [9.25] ten per
cent tax rate pursuant to subsections (a) and (c) shall be deposited into the
general fund in accordance with section 237D-6.5(b)."
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Offered by: |
( ) Carried
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( ) Failed to Carry
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( ) Withdrawn
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