View Amendment Current Amendment: 2 to Bill 3457 Rep. FINLAY proposes the following Amendment No. 2 to H. 3457 (COUNCIL\DG\3457C003.NBD.DG19):

Reference is to Printer's Date 3/27/19-H.

Amend the bill, as and if amended, SECTION 1, Section 6-1-320(A)(3), by adding a subitem at the end to read:

/            (d)       If a municipality imposes operating millage pursuant to this item on property subject to the six percent assessment ratio pursuant to Section 12-43-220(e) and fifty percent of the assessed value of that municipality consists of such property assessed at six percent, then the owner of such property may claim an income tax refund equal to one-third of the amount of tax paid attributable to the municipal operating millage. The credit may be claimed in the year in which the tax is paid. Before the beginning of the upcoming fiscal year, the Department of Revenue shall report to the State Treasurer the amount of income tax credits claimed pursuant to this item from the immediately preceding property tax year and the municipal operating millage that created the credit. The State Treasurer must then withhold the municipality's distribution from the Local Government Fund in the same amount as the applicable credits claimed.            /

Renumber sections to conform.
Amend title to conform.