Revenue sharing is a funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. Laws determine the formulas by which revenue is shared, limiting the controls that the unit supplying the money can exercise over the receiver and specifying whether matching funds must be supplied by the receiver.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Maryland Revenue Sharing Agreement (RSA) is a legal arrangement that outlines the distribution of revenue between the state of Maryland and its local jurisdictions, typically counties and municipalities. This agreement ensures a fair allocation of funds generated from various revenue sources, such as sales and use taxes, income taxes, property taxes, and other state-collected revenues. The primary objective of the Maryland RSA is to address the financial disparities that exist among local jurisdictions within the state. By implementing revenue sharing, the state aims to support less affluent regions and help them provide essential services to their residents more effectively. Under the Maryland RSA, revenue is distributed based on a predetermined formula that takes into account factors like population, property values, income levels, and specific jurisdictional needs. This formula ensures that revenue is shared in a manner that promotes fiscal equity and helps all jurisdictions maintain a certain level of service delivery. In addition to the general Maryland RSA, there are specific types of revenue sharing agreements applicable to different funding sources or programs. Some examples include: 1. County Income Tax — Maryland allows counties to levy their own income taxes in addition to the state income tax. Revenue generated from local income taxes is often shared between the county and the state based on an agreed-upon formula. 2. Education Funding — Maryland has various revenue sharing agreements focused on education funding. For instance, the "Geographic Cost of Education Index" (CEI) is a mechanism that distributes additional funding to counties with higher costs of education, ensuring fair and adequate resources for quality education. 3. Transportation Funding — To support transportation infrastructure projects, Maryland has established revenue sharing agreements specific to fuel taxes, toll revenue, and other transportation-related fees. These funds are shared among different jurisdictions based on factors like traffic volume, road conditions, and specific project requirements. 4. Casino or Gaming Revenues — Maryland also shares a portion of the revenue generated from the operation of casinos or gaming establishments with the local jurisdictions where they are located. These are just a few examples of the various types of Maryland Revenue Sharing Agreements. Each agreement is tailored to address specific revenue sources or programs, ensuring an equitable distribution of funds and promoting balanced development across the state.Maryland Revenue Sharing Agreement (RSA) is a legal arrangement that outlines the distribution of revenue between the state of Maryland and its local jurisdictions, typically counties and municipalities. This agreement ensures a fair allocation of funds generated from various revenue sources, such as sales and use taxes, income taxes, property taxes, and other state-collected revenues. The primary objective of the Maryland RSA is to address the financial disparities that exist among local jurisdictions within the state. By implementing revenue sharing, the state aims to support less affluent regions and help them provide essential services to their residents more effectively. Under the Maryland RSA, revenue is distributed based on a predetermined formula that takes into account factors like population, property values, income levels, and specific jurisdictional needs. This formula ensures that revenue is shared in a manner that promotes fiscal equity and helps all jurisdictions maintain a certain level of service delivery. In addition to the general Maryland RSA, there are specific types of revenue sharing agreements applicable to different funding sources or programs. Some examples include: 1. County Income Tax — Maryland allows counties to levy their own income taxes in addition to the state income tax. Revenue generated from local income taxes is often shared between the county and the state based on an agreed-upon formula. 2. Education Funding — Maryland has various revenue sharing agreements focused on education funding. For instance, the "Geographic Cost of Education Index" (CEI) is a mechanism that distributes additional funding to counties with higher costs of education, ensuring fair and adequate resources for quality education. 3. Transportation Funding — To support transportation infrastructure projects, Maryland has established revenue sharing agreements specific to fuel taxes, toll revenue, and other transportation-related fees. These funds are shared among different jurisdictions based on factors like traffic volume, road conditions, and specific project requirements. 4. Casino or Gaming Revenues — Maryland also shares a portion of the revenue generated from the operation of casinos or gaming establishments with the local jurisdictions where they are located. These are just a few examples of the various types of Maryland Revenue Sharing Agreements. Each agreement is tailored to address specific revenue sources or programs, ensuring an equitable distribution of funds and promoting balanced development across the state.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
