42.495 Effect of reduction of local general tax effort.
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42.495 Effect of reduction of local general tax effort.
(1) If a qualifying local government unit reduces its general tax effort for any fiscal
year, below the level of fiscal year 1991-92, that governmental unit shall forfeit <br>funds that would otherwise be available under the provisions of KRS 42.450 to <br>42.495 on a dollar-for-dollar basis.
(2) For purposes of this section, "general tax effort" shall mean the total revenues raised
in fiscal year 1991-92 from the levy of all of the taxing district's taxes in fiscal year <br>1991-92. Taxes based upon the 1991 assessment of property shall be considered to <br>be taxes levied and collected for fiscal year 1991-92.
Effective: July 1, 1992 <br>History: Amended 1992 Ky. Acts ch. 107, sec. 11, effective July 1, 1992. -- Created
1980 Ky. Acts ch. 394, sec. 10, effective July 1, 1980.
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