Subsidy Tracker Individual Entry
An amount limited to: (i) 100% of a special retail sales tax imposed by the City pursuant to the Business District Law, imposed in 0.25 percent increments not to exceed 1.0 percent, and beginning at a rate of 0.75 percent. ( Business District Sales Tax or BST ) On or after January 1, 2014, the City may increase the 0.75% BST by 0.25% to derive additional funds for reimbursement, and (ii) 35 percent of annual incremental sales tax ( IST ) derived and collected from the City's local distributive share of the Municipal Retailers Occupation Tax associated with sales in excess of $AMOUNT annually ( Base Sales ). The City shall receive 100% of the tax derived from Base Sales and use 35 percent of the IST to pay interest on and principal ofthe Notes. The calculation is to be made on a calendar year basis.
Year is year agreement began. Subsidy value is not available. Project description is verbatim text (including indeterminate amounts) from the Department of Revenue's online compilation of excerpts from local agreements.