02/24/05 - Taft Budget Proposal
Governor Taft's Budget Proposal will freeze the current year (CY) 2005 Library and Local Government Support Fund (LLGSF) to the CY 2004 funding level.
Beginning January 2006, under Governor Taft's proposal, the LLGSF will be reduced by 5% for CY 2006.
Under this proposal, funding for January 2007 through June 2007 will continue at the 5% reduction (not an additional reduction of 5%).
Proposed LLGSF distributions:
| |
Taft Budget Proposal |
| 2005 |
$455.4 |
| 2006 |
$427.7 |
| 2007* |
$234.7 |
*January – June 2007 only
The LLGSF will return to the 5.7% of personal income tax formula in the next biennium budget.
The other two local government funds, Local Government Revenue Assistance Fund (LGRAF) and the Local Government Fund (LGF) will also be reduced. Funding to counties and cities will be reduced by 20% and funding to villages and townships will be reduced by 10%.
