HB1054 Summary

• Appropriates $29,372,099 in general revenues to cities and $180,000,000 in special revenues to cities for fiscal year 2014-2015 through the Municipal Aid Fund.

• Appropriates $21,645,067 in general revenues to counties and $200,000,000 in special revenues to counties for fiscal year 2014-2015 through the County Aid Fund, including highway turnback and severance taxes.

• Appropriates $20,000,000 for unanticipated special revenues from mineral, oil, and gas sales on federal military lands to be distributed to counties.

• Appropriates $250,000,000 from the Property Tax Relief Trust Fund for statewide property tax reduction to counties, plus $4,000,000 each to counties and cities for Property Tax Relief Fund revenues distribution using specified formulas.

• Authorizes loans of $3,517,657 to the Municipal Aid Fund and $1,906,079 to the County Aid Fund from the Budget Stabilization Trust Fund on July 1 each fiscal year to assist local governments with cash flow needs, with repayment from monthly general revenue distributions.