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ID H0547
Bill
Status
3/18/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Establishes that cigarette tax moneys distributed pursuant to section 63-2520(b)(5) shall be included in the GARVEE Debt Service Fund and used in combination with state highway account transfers for payment of principal, interest, and other amounts required for transportation bonds or notes.
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Changes cigarette tax distributions to the Public School Income Fund and Department of Juvenile Corrections from a percentage-based formula to fixed annual amounts of $3,315,000 each, effective July 1, 2014.
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Revises remaining cigarette tax revenue distributions by replacing percentage-based allocations with specific dollar amounts: $5,000,000 to permanent building fund, $120,000 to central cancer registry fund, and $300,000 to cancer control account fund.
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Establishes priority distribution order for remaining cigarette tax revenues: $4,700,000 annually for GARVEE debt service state match, $5,000,000 to secondary aquifer planning and implementation fund, and all remaining moneys to state highway account for maintenance and repair.
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Makes technical correction to section 57-1702 by changing "cancer control account" to "cancer control fund" for consistency in terminology.
Legislative Description
Amends existing law to establish provisions relating to moneys included in the GARVEE Debt Service Fund; to revise provisions relating to certain moneys subject to appropriation to the Public School Income Fund and the Department of Juvenile Corrections; to revise distribution of certain moneys; and to revise a term.
DISTRIBUTION OF CIGARETTE TAX MONEYS
Last Action
Reported Signed by Governor on March 18, 2014 Session Law Chapter 115 Effective: 07/01/2014
3/18/2014