(a) The department shall calculate the basic amount used for determining the basic community revenue sharing payment for a fiscal year by applying the following formula: the amount available for payments for that fiscal year under AS 29.60.850 (c), minus 60,000,000, divided by 60,000,000, plus one, multiplied by 384,000. However, if the amount calculated is less than $220,000, the basic amount for that fiscal year is $220,000.
(b) Except as provided in (c) of this section, the basic community revenue sharing payment for a fiscal year equals, for each
(1) unified municipality, the sum of the amounts calculated under (2) and (3) of this subsection, rounded to the nearest $1,000;
(2) borough, the basic amount, rounded to the nearest $1,000;
(3) city and eligible reserve, one-fourth of the basic amount, rounded to the nearest $100;
(4) eligible community in the unorganized borough, one-twelfth of the basic amount, rounded to the nearest $100;
(5) eligible community in a unified municipality or borough, one-nineteenth of the basic amount, rounded to the nearest $100.
(c) The basic revenue sharing payment amount for a succeeding municipality formed when two or more municipalities merge, consolidate, or unify after January 1, 2002, equals the sum of the amounts each of the former municipalities would receive under (b) of this section calculated as if the merger, consolidation, or unification had not occurred.
Section: Previous 29.60.850 29.60.855 29.60.860 29.60.865 29.60.879 NextLast modified: November 15, 2016