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Appropriations panel briefs on pilot special fund, cautions on shifting recurring costs and local option tax policy
Summary
Staff briefed the committee on the pilot special fund (25% share of local option taxes), described one-time and recurring outlays including a proposed $3.41M shift and $500K telecom valuation appropriation, and members raised equity concerns about towns raising local option taxes above 1% and formulas to share resulting revenue.
Committee staff presented a detailed briefing of the pilot special fund and its projected balances at the Appropriations Committee meeting on February 4.
Speaker 3 explained the pilot fund is funded by a 25% share of local option tax revenue, "It comes from the 25% share of local option tax revenue," and outlined recurring obligations and recent one-time appropriations. Staff highlighted a governor recommendation for a $500,000 one-time appropriation to the tax…
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