2014 Kentucky Revised Statutes CHAPTER 136 - CORPORATION AND UTILITY TAXES 136.654 Determination of distributions -- State baseline and local growth fund.
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136.654 Determination of distributions -- State baseline and local growth
fund.
(1)
(2)
(3)
On or before December 1, 2005, and every January 31 thereafter, each
participating political subdivision shall certify to the department its total tax
receipts for the prior fiscal year. This amount shall be used to calculate the
percentage of each political subdivision's portion of the account labeled under
its county's name within the state baseline and local growth fund as described
in subsection (3)(b) of this section. "Total tax receipts" shall not include
revenue from nontax sources, such as intergovernmental revenues, charges
for services, tuition, interfund transfers, interest and investment income, rental
income, income from asset sales, beginning balances, or revenue from
licenses and permits. "Total tax receipts" shall include the following:
(a) Real estate and tangible personal property taxes, including delinquent tax
receipts;
(b) Franchise fees or taxes on utilities, other than multichannel video
programming service and communications service utilities;
(c) Occupational and business license fees or taxes, including insurance
premium taxes, net profits taxes, gross receipts taxes, payroll taxes,
transient room taxes, restaurant taxes, and bank deposit taxes;
(d) Telephone emergency surcharge fees;
(e) Gross revenues tax hold-harmless and growth fund receipts; and
(f) Payments in lieu of taxes.
On or before every January 31, each participating school district and special
district shall certify to the department the amount of its prior year tax
assessments under KRS Chapter 132 on companies' providing of multichannel
video programming service and communications service. This amount shall be
used to calculate the percentage of each school districts and special district's
portion of the account labeled under its county's name within the state baseline
and local growth fund as described in subsection (3)(b) of this section. For tax
years with no assessments under KRS Chapter 132, the local historical
percentage as defined in KRS 136.650 shall be used.
Each political subdivision's, school district's, and special district's monthly
portion of the state baseline and local growth fund shall be computed as
follows:
(a) A "local growth portion" shall be determined as an amount of money that
when added to the hold-harmless amount identified in KRS 136.650(2)(c)
equals fifteen and six-tenths percent (15.6%) of the total amount
deposited in the gross revenues and excise tax fund, minus the amount of
distributions made under KRS 136.652(1) and (3).
(b) The local growth portion shall be accounted for by county within the state
baseline and local growth fund based on the ratio of the gross revenues
tax collected on multichannel video programming services and
communications services provided in each county to the total statewide
collections of the gross revenues tax. The county-by-county allotment of
the local growth portion shall be known as the "county growth portion."
(c) The county growth portion shall be further segregated into the political
(d)
(e)
(f)
(g)
(h)
subdivision allotment, the school district allotment, and the special district
allotment based upon the ratio of each allotment categorys total
historical collections as calculated under KRS 136.650(2) to the total
overall county historical collections as calculated from the certified
collections under KRS 136.650(1).
On or before April 25, 2006, each political subdivision's share of the
political subdivision allotment shall be determined by multiplying the
political subdivision allotment of the local growth portion as determined in
paragraph (b) of this subsection by the percentage calculated in
subsection (1) of this section.
On or before April 25, 2006, each school districts share of the school
district allotment shall be determined by multiplying the school district
allotment as determined in paragraph (c) of this subsection by the
percentage calculated in subsection (2) of this section.
On or before April 25, 2006, each special districts share of the special
district allotment shall be determined by multiplying the special district
allotment as determined in paragraph (c) of this subsection by the
percentage calculated in subsection (2) of this section.
The respective allotment share for each participating political subdivision,
school district, and special district shall be adjusted every July 1 following
the year 2006, to account for any change in its percentages based on
annual certifications required in subsections (1) and (2) of this section.
Notwithstanding the annual certifications required in subsection (1) of this
section, following the year 2006, political subdivisions may choose to
determine their respective shares of the political subdivision allotment
pursuant to an interlocal agreement as authorized under KRS 65.240.
Activation or termination of an interlocal agreement shall comply with the
notification requirements of subsection (1) of this section and shall
become effective the following July 1. The terms of a timely interlocal
agreement governing the distribution of a political subdivision allotment
shall remain in effect until its timely termination by one of the participating
political subdivisions.
Effective:January 1, 2006
History: Created 2005 Ky. Acts ch. 168, sec. 115, 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.
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