Bill Status of HB4170 94th General Assembly
Short Description: FINANCE-REVENUE PROCEEDS
Rep. Timothy L. Schmitz - Ruth Munson - Terry R. Parke - Marlow H. Colvin - Patricia Reid Lindner, William B. Black, Aaron Schock and Robert W. Pritchard
| 1/9/2007||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the State Finance Act. Creates the Home Emergency Assistance Targeted Relief Fund as a special fund in the State treasury and provides that, from appropriations from the Fund, the Department of Healthcare and Family Services must use the moneys in the Fund for the purposes of energy assistance programs. Creates the Extra Fuel Tax Revenues Fund as a special fund in the State treasury. Requires the Treasurer, on the effective date of this amendatory Act, to transfer $50,000,000 from the General Revenue Fund to the Home Emergency Assistance Targeted Relief Fund. Provides that, beginning on the effective date of this amendatory Act, on the first day of each month, the Treasurer shall transfer the balance, if any, of the Extra Fuel Tax Revenues Fund to the General Revenue Fund until the cumulative amount transferred from the Extra Fuel Tax Revenues Fund to the General Revenue Fund reaches $50,000,000. Exempts the Home Emergency Assistance Targeted Relief Fund and the Extra Fuel Tax Revenues Fund from the administrative chargeback provisions of the Act. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. In each of those Acts, provides that if, at any time during fiscal year 2006, the total net revenue realized for fiscal year 2006 that was collected by the State on the sale or use of motor fuel in fiscal year 2006 is equal to or exceeds the total net revenue realized for fiscal year 2005 that was collected by the State on the sale or use of motor fuel, then each month through July 2006 the Department shall pay into the Extra Fuels Tax Revenues Fund 80% of the net revenue realized for the preceding month from the 6.25% rate on the selling price of motor fuel and gasohol that was sold during fiscal year 2006. Effective immediately.