Establishment of special account in state general fund
Sec. 19. (a) A special account within the state general fund shall
be established for each municipality adopting a municipal option
income tax. Revenue derived from the imposition of the municipal
option income tax shall be deposited in that municipality's account
in the state general fund.
(b) Income earned on money held in an account under subsection
(a) becomes a part of that account.
(c) Revenue remaining in an account established under subsection
(a) at the end of a state fiscal year does not revert to the state general
fund.
As added by P.L.151-2001, SEC.6.
Last modified: May 28, 2006