Collected revenue; distribution and use
Sec. 3. (a) All revenues derived from collection of the adjusted
gross income tax imposed on corporations shall be deposited in the
state general fund.
(b) All revenues derived from collection of the adjusted gross
income tax imposed on persons shall be deposited as follows:
(1) Eighty-six percent (86%) in the state general fund.
(2) Fourteen percent (14%) in the property tax replacement
fund.
(Formerly: Acts 1963(ss), c.32, s.704; Acts 1965, c.233, s.29; Acts
1969, c.425, s.1; Acts 1973, P.L.50, SEC.6.) As amended by Acts
1977(ss), P.L.4, SEC.18; P.L.390-1987(ss), SEC.39;
P.L.192-2002(ss), SEC.83.
Last modified: May 28, 2006