995090 GENERAL APPROPRIATIONS BILL Committee Amendment SB2500 EDU 44 Senator(s):Thomas moved the following amendment:
Section: EXPLANATION: On Page: 412 Provides a $1,977,444 loan to the School Board of Gulf County to offset an anticipated loss of ad valorem tax Spec App: revenue as a result of non-payment of taxes by a large corporation located in Gulf County
NET IMPACT ON: Total Funds General Revenue Trust Funds Recurring - 0 0 0 Non-Recurring - 0 0 0 _________________________________________________________________________________ Positions & Amounts Positions & Amounts DELETE INSERT In Section On Page 412 Insert the following new section following Section 21 on page 412 and renumber subsequent sections: Section 21. The sum of $1,977,444 is hereby appropriated from General Revenue to the Gulf County School District, to be distributed during the month of July, 1999, as a loan to offset the loss of ad valorem revenue due to the non-payment of 1998 ad valorem taxes by a major industrial landowner located in Gulf County. As a qualification on this appropriation, the Gulf County School Board shall budget sufficient funds during the next succeeding four fiscal years to repay to the State Treasurer the sum so advanced, without interest; and the Gulf County School Board shall reimburse the State Treasurer in four equal payments, commencing in the 2000-2001 fiscal year.
Line item amendments are accepted as part of the amendatory process. However, due to the necessity of using computerized systems this may entail a different placement within a budget entity or the renumbering of the specific appropriation items. 995090 Log:0318 RDH/RDH 03/24/99 10:53:44 PM Senate Page: 1