Reference is to Printer's Date 2/18/15--H.
Amend the bill, as and if amended, by striking all after the enacting words and inserting:
/ SECTION 1. Section 6-27-30 of the 1976 Code is amended to read:
"Section 6-27-30.
In the annual general appropriations act, an
amount equal to not less than four and one-half percent of
general fund revenues of the latest completed fiscal year must
be appropriated to the Local Government Fund. (A)
For purposes of this section:
(1)
'Base-year amount' means the total Local Government
Fund appropriation for Fiscal Year 2014-2015.
(2)
'Formula amount' means four and one-half percent
of the Board of Economic Advisor's projection of recurring
general fund revenue for the upcoming fiscal year as of may
thirty-first of the current fiscal year.
(B)(1) For
Fiscal Year 2015-2016, the Local Government Fund must be funded
in the amount equal to the base-year amount plus thirty-three
percent of the difference between the base-year amount and the
formula amount.
(2)
For Fiscal Year 2016-2017, the Local Government
Fund must be funded in the amount equal to the base-year amount
plus sixty-six percent of the difference between the base-year
amount and the formula amount;
(3)
For Fiscal Year 2017-2018, and all subsequent
fiscal years, the Local Government Fund must be funded at the
formula amount."
SECTION 2. This act takes effect upon approval by the Governor. /
Renumber sections to conform.
Amend title to conform.