Bill > HB6133

This bill establishes the Revenue Sharing Trust Fund in the Department of Treasury, which will receive money from the General Sales Tax Act and other sources. The bill requires the State Treasurer to distribute 16.66% of $542,761,800 from the Revenue Sharing Trust Fund to cities, villages, and townships, and to counties, on a bimonthly basis. Any additional funds received by the Revenue Sharing Trust Fund above $542,761,800 will be distributed to cities, villages, townships, and counties according to the revenue sharing formulas in the Glenn Steil State Revenue Sharing Act of 1971. The bill also specifies that money in the Revenue Sharing Trust Fund cannot be transferred or disbursed except as authorized in this legislation, and that the Governor and State Budget Director must include an appropriation for the fund in the annual budget.