Introduced House Bill (H)

Authored by

DIGEST

City and town fiscal matters. Requires a city or town outside of Marion County to deposit all of the city's or town's cigarette tax distribution in the city's or town's general fund. (Current law requires the distribution to be divided between the city's or town's general fund and a cumulative capital improvement fund.) Repeals the following: (1) The requirement that a city or town establish a cumulative capital improvement fund. (2) A nonreversion provision. (3) Authority to transfer money from a cumulative capital improvement fund to the city's or town's general fund. Makes conforming changes. Provides that money distributed to City and town fiscal matters. Requires a city or town outside of Marion County to deposit all of the city's or town's cigarette tax distribution in the city's or town's general fund. (Current law requires the distribution to be divided between the city's or town's general fund and a cumulative capital improvement fund.) Repeals the following: (1) The requirement that a city or town establish a cumulative capital improvement fund. (2) A nonreversion provision. (3) Authority to transfer money from a cumulative capital improvement fund to the city's or town's general fund. Makes conforming changes. Provides that money distributed to cities and towns from the motor vehicle highway account and the local road and street account may be used for the same purposes. ... View more