Current Amendment: DAD tax relief 78m.DOCX to Bill 4813
Senator BRYANT proposes the following amendment (DAD TAX RELIEF 78M):
Amend the bill, as and if amended, Part IB, Section 90, STATEWIDE REVENUE, page 536, after line 32, by adding an appropriately numbered new proviso to read:
/ (SR: Tax Relief Reserve Fund) There is created the Tax Relief Reserve Fund, which shall be separate and distinct from the General Fund. Interest accrued by the fund must remain in the fund. Notwithstanding any other provision of law, on December 31, 2012, the State Treasurer shall transfer $78,196,000 from the General Fund to the Tax Relief Reserve Fund. These funds may only be used to provide tax relief to businesses and individuals as provided by law. Funds within the Tax Relief Reserve Fund shall be retained and carried forward to be used for the same purpose.
Renumber sections to conform.
Amend sections, totals and title to conform.