REVENUE SHARING

Senate Bill 1104 as passed by the Senate

Sponsor: Sen. Shirley Johnson

Senate Committee:  Appropriations

House Committee:  Appropriations

Complete to 9-13-04

A SUMMARY OF SENATE BILL 1104 (S-4) AS PASSED BY THE SENATE

Senate Bill 1104 would amend the Revenue Sharing Act to distribute the appropriated funding such that each local unit would receive in FY 2004-05 an amount equal to the total payment received in FY 2003-04.

Should the amount available to be distributed as Constitutional revenue sharing fall below the estimated amount of $681.0 million, payments to local units will be reduced equally in percentage terms.

For those local units that currently receive no statutory payment due to prior year reductions, the FY 2004-05 payment will exceed the FY 2003-04 payment.

FISCAL IMPACT:

SB 1104 would have no impact on state revenue. It only changes the distribution of the appropriated funding.

                                                                                                                          

                                                                                                  Fiscal Analyst:   Jim Stansell

This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.