Expenditure and transfer of CEDIT funds.

Authors: Senator Liz Brown

Digest

Provides that the executive of a county or municipality may not transfer money that has been deposited in the county or municipal economic development income tax fund unless the transfer is approved by resolution or ordinance of the county or municipal fiscal body. Specifies that county economic development income tax (CEDIT) revenue may not be expended for a purpose listed in a capital improvement plan or for any other purpose unless the county or municipal fiscal body has appropriated the money for the specific expenditure or the specific capital improvement as a separate line item.