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Staff outlines sales tax distribution, growth in earmarks and potential Techum bond proposal
Summary
JFAC staff presented tables showing sales tax growth and statutory distributions (revenue sharing, Techum, school modernization, tax-relief fund), noting the general fund's shrinking share of sales tax and discussing a potential proposal to earmark additional funds for Techum bonding.
Budget staff walked JFAC members through sales tax collections, statutory distribution formulas and how recent and proposed earmarks reduce the share of sales tax available to the general fund.
Bybee summarized the Legislative Budget Book tables and noted total gross sales tax collections were projected to grow from $3.1 billion in 2024 to roughly $3.37 billion in 2025 and $3.5 billion in 2026. After statutory distributions and transfers (refunds, revenue sharing, the tax-relief fund, Techum allocations, and other earmarks), the remainder flows to the state general fund.
Key distribution points noted by staff: - Revenue sharing: 11.5% of net collections is distributed to local units (cities, counties and special districts). - Techum…
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