CHAPTER 11. TAXATION.

§11-8-2. Legislative findings.

The Legislature, having carefully analyzed the fiscal affairs of the state and its political subdivisions with particular reference to the reduction of the outstanding bonded debt of political subdivisions incurred prior to the adoption of the Tax Limitation Amendment, finds:

(1) That the total outstanding bonded indebtedness of subdivisions of the state incurred prior to the adoption of the Tax Limitation Amendment has been reduced since the year 1939-1940, by approximately sixty-five percent and the annual requirements of service upon bonded debt have been reduced by completed amortizations from slightly less than $6,500,000 in that year, to approximately $2,300,000 for the fiscal year beginning on July 1, 1949, according to findings certified to the Legislature by the state sinking fund commission.

(2) That it is therefore now possible to adjust the allocation of levies to redistribute so much of the rates previously allocated for debts incurred prior to the adoption of the Tax Limitation Amendment as represent debts completely liquidated, so as to meet the increased levying requirements of county courts, boards of education, and municipalities, and that such adjustment is in keeping with sound finance, the preservation of local fiscal responsibility for local services, and the intention of the Tax Limitation Amendment.

Bills Affecting §11-8-2

2003 Regular Session: HB3157
2004 Regular Session: HB3157
2004 Regular Session: SB14
2004 Regular Session: SB14
2004 Regular Session: SB594
2004 Regular Session: SB594
2004 Regular Session: SB594
2005 Regular Session: HB2313
2005 Regular Session: HB2445
2005 Regular Session: HB2445
2005 Regular Session: HB2445
2005 Regular Session: SB188
2005 Regular Session: SB188
2005 Regular Session: SB188
2005 Regular Session: SB497
2005 Regular Session: SB497
2005 Regular Session: SB688
2005 Regular Session: SB688
2005 Regular Session: SB688
2006 Regular Session: HB2313
2006 Regular Session: HB2445
2006 Regular Session: HB2445
2006 Regular Session: HB2445
2006 Regular Session: HB4566
2006 Regular Session: HB4566
2006 Regular Session: HB4566
2006 Regular Session: SB43
2006 Regular Session: SB43
2006 Regular Session: SB520
2006 Regular Session: SB520
2006 Regular Session: SB520
2006 Regular Session: SB719
2006 Regular Session: SB719
2006 Regular Session: SB719
2007 Regular Session: HB2161
2007 Regular Session: SB112
2007 Regular Session: SB112
2007 Regular Session: SB446
2007 Regular Session: SB446
2007 Regular Session: SB446
2007 Regular Session: SB536
2007 Regular Session: SB536
2007 Regular Session: SB662
2007 Regular Session: SB692
2007 Regular Session: SB692
2008 Regular Session: HB2161
2008 Regular Session: SB131
2008 Regular Session: SB332
2009 Regular Session: HB2291
2009 Regular Session: HB3284
2010 Regular Session: HB2291
2010 Regular Session: HB4307
2010 Regular Session: HB4448
2010 Regular Session: HB4614
2010 Regular Session: SB547
2010 Regular Session: SB641
2011 Regular Session: HB2136
2011 Regular Session: HB2294
2011 Regular Session: HB2792
2011 Regular Session: SB305
2012 Regular Session: HB2136
2012 Regular Session: HB2294
2013 Regular Session: HB2119
2013 Regular Session: HB2993
2013 Regular Session: SB618
2014 Regular Session: HB2119
2014 Regular Session: HB2993
2014 Regular Session: SB302
2015 Regular Session: HB2029
2015 Regular Session: HB2262
2015 Regular Session: SB98
2016 Regular Session: HB2029
2016 Regular Session: HB2262
2016 Regular Session: HB4596
2016 Regular Session: SB337
2016 Regular Session: SB570
2017 Regular Session: HB2036
2017 Regular Session: SB30
2017 Regular Session: SB38
2017 Regular Session: SB487
2017 Regular Session: SB609
2018 Regular Session: HB4475
2018 Regular Session: SB12
2018 Regular Session: SB85
2018 Regular Session: SB300
2018 Regular Session: SB596
2019 1X: HB168
2019 1X: HB168
2019 Regular Session: HB2228
2019 Regular Session: HB3123
2019 Regular Session: SB29
2019 Regular Session: SB113
2019 Regular Session: SB336
2019 Regular Session: SB439
2019 Regular Session: SB635
2019 Regular Session: SB666
2020 Regular Session: HB2228
2021 Regular Session: SB600