Distribution of Proceeds of Certain Taxes to Local Governments

Definitions.

“Account” defined.

“County” defined.

“Enterprise district” defined.

“Local government” defined.

“Special district” defined.

Local Government Tax Distribution Account: Creation

Eligibility for allocation from Account.

Annual allocations from Account.

Establishment of base monthly allocations from Account

Adjustment of allocation to local government or special district after decrease in population and assessed valuation of taxable property.

Pledge of percentage of revenue to payment of bonds.

Guaranteed allocation from Account for tax proceeds pledged to secure obligations.

Determination of whether governmental entity is enterprise district.

Enterprise districts prohibited from pledging revenue from Account to secure obligations

Establishment of alternative formula for distribution of taxes in Account by cooperative agreement.

Request of newly created local government or special district for allocation from Account.