HB 773 Summary

• Increases the Public Library Fund allocation from 1.66% to 1.6699% of total tax revenue credited to the General Revenue Fund monthly.

• Establishes a supplemental account within the public library fund to be divided equally among all eligible libraries each month for modernization, cultural programs, workforce development, and other community services.

• Modifies the general account distribution to allocate increases to libraries equally rather than based on historical 1982-1984 tax distributions.

• Creates specific percentages for fiscal year 2021: 83.42% to general account and 16.58% to supplemental account of public library fund credits.

• Makes corresponding amendments to H.B. 166 budget appropriations, increasing Public Library Fund from $422.3 million to $472 million.