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Financial impact statement details revenue estimates and distribution for proposed surtax renewal
Summary
The committee's adopted statement projects $201.5M and $213.8M in the first two years for a renewed 0.5% surtax; 5% is allocated to the Hillsborough County School Board and remaining revenue to the county and named cities, governed by an ordinance referenced in the transcript.
Kevin Brickey read the distribution framework included in the proposed financial impact statement for a renewed 0.5% community investment sales surtax.
"Dollars 5% of revenues will be shared by the Hillsborough County School Board, and using a population based formula, the balance shared by Hillsborough County, City of Tampa, Plant City, and City Of Temple Terrace," Brickey said, describing how the statement allocates revenue among recipients. He also stated that expenditures would be governed by the ordinance referenced in the transcript as "ordinance number 20 four-three."
The statement gives specific two-year revenue projections—$201.5 million and $213.8 million—based on the committee's assumptions and economic outlook. The allocation of 5% to the school board and a population-based split for the remainder are explicit in the adopted statement and will inform how referendum revenue is presented to stakeholders.
Committee members did not propose changes to the distribution language during the meeting and voted to adopt the statement as presented.
