No earlier than 10 a.m., the Board will hear a request from the Department of Finance to adopt a resolution determining the fiscal year 2016-17 appropriations of tax proceeds pertaining to the County of Marin in accordance with Article XIII-B of the State Constitution (Proposition 4 Gann Initiative). The Gann Limit was established in 1979 after the passage of Proposition 13 and was passed by voters to cap annual appropriations made by California and local government taxing agencies. The limit must be calculated on an annual basis and only increase annually by growth and population factors and/or temporarily through voter approval in accordance with California law. The law requires state and local governments to return any funds in excess of the appropriations limit within two fiscal years with some exceptions. The aggregate tax proceeds limit for both County and special districts governed by County Board is $328,411,741; and proceeds subject to the limit are $191,870,100.
The Board adopted the resolution.
Need more info? See the staff report about the tax proceeds pertaining to the Gann Initiative.
Contact: Roy Given, Director of Finance
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