Rate reduction amount means one-third of any legacy fund earnings deposited in the legacy income tax rate reduction fund exceeding the base funding amount.
Rate reduction amount means one-half of the funds deposited in the income tax rate reduction fund exceeding the base funding amount.
Examples of Rate reduction amount in a sentence
Non-operating expenses such as capital expenditures, debt service, and the Ed Levin Rate reduction amount to $15.3 million in FY 2015/16 and are expected to fluctuate to as low as $5.3 million in FY 2018/19.