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136.652
Distribution -- Administrative costs -- Monthly hold harmless
amounts.
Money in the gross revenues and excise tax fund shall be distributed monthly as
follows:
(1) One percent (1%) shall be deposited in a trust and agency account created in
the State Treasury to be used by the department for administration costs
associated with the implementation, collection, and distribution of the tax
imposed by KRS 136.604 and 136.616.
(2) After the distribution required under subsection (1) of this section, the
department shall distribute to each political subdivision, school district and
special district the applicable monthly hold-harmless amount as calculated
under KRS 136.650. In addition, the department shall distribute one-twelfth
(1/12) of the sheriff department's fixed hold-harmless amount as defined in
KRS 136.650(2)(b). For tax collections received in January and February of
2006, the department shall make the distribution by April 25, 2006. For all other
periods, the department shall make distribution by the twenty-fifth day of the
next calendar month following the tax receipts.
(3) After the distribution required by subsection (2) of this section, the department
shall deposit one million two hundred fifty thousand dollars ($1,250,000) in the
state general fund. This amount shall be adjusted on a prospective basis after
the collection of the first twelve (12) months of tax receipts from the taxes
imposed by KRS 136.604 and 136.616 to equal the average monthly tax
receipts attributable to the taxation of satellite broadcast and wireless cable
services under KRS 136.604 and 136.616. The amount shall then become the
fixed amount distributed to the general fund.
(4) Money remaining in the gross revenues and excise tax fund after the
distribution required by subsection (3) of this section shall be transferred to the
state baseline and local growth fund established in KRS 136.648.
Effective:January 1, 2006
History: Created 2005 Ky. Acts ch. 168, sec. 114, effective January 1, 2006.
Legislative Research Commission Note (1/01/2006). 2005 Ky. Acts chs. 11, 85,
95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory
references to agencies and officers whose names have been changed in 2005
legislation confirming the reorganization of the executive branch. Such a
correction has been made in this section.
2014-2016 Budget Reference. See State/Executive Branch Budget, 2014 Ky. Acts
ch. 117, Pt. I, F, 7, (1) at 641.
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