HB 1311 Summary

• Increases the portion of sales, gross receipts, use, and motor vehicle excise tax collections deposited in the state aid distribution fund from 40 percent to 20 percent of net collections under chapters 57-39.2, 57-39.5, 57-39.6, 57-40.2, and 57-40.3.

• Modifies county allocation from 53.7% to 26.85% of state aid distribution fund revenues, with 64% allocated among the 17 most populous counties and 36% among remaining counties.

• Modifies city allocation from 46.3% to 23.15% of state aid distribution fund revenues, allocated based on each city's proportion of total city population.

• Retains 50% of revenues in the state aid distribution fund for allocation to counties by October 5 each year based on property tax levy, to reduce counties' property tax levies.

• Effective for taxable events occurring after June 30, 2013.