CREATE ALL CITIES & COUNTIES FUND

Summary

The bill establishes the All Cities and Counties Fund in the state treasury and earmarks 8% of gross receipts tax net receipts for it. Each year the Taxation and Revenue Department calculates a payment to every municipality and county using a population‑ and revenue‑based formula, and the state treasurer transfers the money by November 1. The purpose is to provide a regular source of funding for local governments.

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