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Introduced House Bill (H)

DIGEST

Distribution of local income taxes. Phases in a new distribution formula for certain local income tax (LIT) revenue using a weighted combination of property tax levies and total residential assessed value for taxing units receiving this LIT revenue. Phases in the weights over four years beginning in 2021. Distribution of local income taxes. Phases in a new distribution formula for certain local income tax (LIT) revenue using a weighted combination of property tax levies and total residential assessed value for taxing units receiving this LIT revenue. Phases in the weights over four years beginning in 2021.