2013 Kentucky Revised Statutes CHAPTER 79 - INTERCITY, INTERCOUNTY AND CITY-COUNTY COMPACTS FOR PURCHASING AND MERIT SYSTEMS -- RETIREMENT AND DISABILITY PLANS FOR EMPLOYEES OF COUNTIES AND CITIES 79.325 Sinking fund apportionment.
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79.325 Sinking fund apportionment.
(1)
(2)
(3)
(4)
(5)
Effective the year the compact between the city and the county is entered into
pursuant to KRS 79.310 to 79.330, the sinking fund of the city of the first class
shall calculate the distribution of the combined collections from the
occupational license fees in accordance with the formula established by this
section instead of in accordance within which jurisdiction the situs of the person
or business subject to the tax is located. This section shall not change the
manner in which such license fees are levied or collected by such city and
county and the fees therefor, but merely directs that the combined collections
from such license fees be apportioned between the two (2) local governments
better to reflect the sharing of responsibilities and obligations agreed to by such
city and the county in the cooperative compact under KRS 79.310 to 79.330.
If combined collections from occupational license fees in any calendar year are
less than or equal to the base year collections, fifty-eight and seven hundred
thirty-five thousandths percent (58.735%) of such combined collections shall be
apportioned to the city of the first class and forty-one and two hundred
sixty-five thousandths percent (41.265%) of such combined collections shall be
apportioned to the county.
If combined collections are greater than the base year collections but less than
the combined inflation-adjusted base, the amount equal to the base year
collections shall be divided between such city and county in accordance with
subsection (2) of this section, and the remainder of combined collections shall
be divided so that the city shall be apportioned fifty-nine and seven-tenths
percent (59.7%) of such remainder and the county shall be apportioned forty
and three-tenths percent (40.3%) of such remainder.
If combined collections in any calendar year exceed the combined
inflation-adjusted base, the amount of combined collections equal to the
combined inflation-adjusted base shall be divided between the city and the
county in accordance with subsection (3) of this section, ten percent (10%) of
the combined collections in excess of the combined inflation-adjusted base
shall be apportioned in accordance with subsection (5) of this section, and the
remaining ninety percent (90%) shall be apportioned so that fifty-seven and
two-tenths percent (57.2%) of the remainder shall be apportioned to the city of
the first class and forty-two and eight-tenths percent (42.8%) of the remainder
shall be apportioned to the county.
Ten percent (10%) of the combined collections in excess of the combined
inflation adjusted base shall be apportioned to the city of the first class or the
county in accordance within which jurisdiction the growth in combined
collections occurred. If the increase in combined collections is attributable to
increased collections in both jurisdictions, the city and the county shall each be
apportioned a percentage of the ten percent (10%) equal to the percentage of
the increase in combined collections that is attributable to the increase in
collections in its jurisdiction.
Effective:July 15, 1986
History: Created 1986 Ky. Acts ch. 77, sec. 4, effective July 15, 1986.
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