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AL SB363
Bill
Status
3/30/2021
Primary Sponsor
Clay Scofield
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AI Summary
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Eliminates the existing formula for distributing sales tax discount revenues and replaces it with a fixed cap to provide more certainty for General Fund deposits.
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Beginning October 1, 2021, allocates $7,500,000 annually to the Department of Conservation and Natural Resources for capital outlay, repairs, and maintenance of the state parks system only.
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Requires the State Treasurer to annually adjust the $7,500,000 dollar amount beginning with fiscal year 2022 based on the cumulative change in the Consumer Price Index for All Urban Consumers (CPI-U), rounded to the nearest $1,000.
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Maintains existing allocations to counties ($378,000), Department of Human Resources ($1,322,000), and other designated funds from sales tax revenue collections.
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Becomes effective immediately upon passage and approval by the Governor.
Legislative Description
Taxation, sales tax revenue, distribution of portion to Conservation and Natural Resources Dept for State Parks, adjustment based on change in Consumer Price Index, Sec. 40-23-35 am'd.
Taxation
Last Action
Indefinitely Postponed
5/4/2021