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.
The New York Revenue Sharing Agreement is a financial arrangement between various government entities within the state of New York. It aims to distribute revenue generated from specific sources among different municipalities, counties, and regions in a fair and equitable manner. This agreement helps ensure that local governments receive a portion of the state's revenue, thereby enabling them to provide essential public services and effectively serve their respective communities. One type of New York Revenue Sharing Agreement is the Local Government Assistance Program (GAP). Under GAP, the state allocates a portion of its revenue to local governments based on a predetermined formula. This formula considers various factors such as population size, poverty rates, and fiscal capacity of each municipality or county. Another type of revenue sharing agreement in New York is known as the Aid and Incentives for Municipalities (AIM) program. AIM provides financial aid to municipalities that have experienced fiscal stress due to factors such as declining population, economic downturns, or other budgetary challenges. This program assists local governments in maintaining vital services and infrastructure. Counties in New York also have their own revenue sharing agreements, commonly referred to as county revenue-sharing programs. These programs aim to distribute revenue among different towns and cities within a county, ensuring resources are allocated fairly and efficiently at the local level. It is important to note that revenue sharing agreements can vary in scope and terms across different states and jurisdictions. In New York, the state government plays a crucial role in establishing and implementing revenue sharing agreements, emphasizing the importance of collaboration between the various levels of government to ensure balanced economic development and the provision of essential public services.The New York Revenue Sharing Agreement is a financial arrangement between various government entities within the state of New York. It aims to distribute revenue generated from specific sources among different municipalities, counties, and regions in a fair and equitable manner. This agreement helps ensure that local governments receive a portion of the state's revenue, thereby enabling them to provide essential public services and effectively serve their respective communities. One type of New York Revenue Sharing Agreement is the Local Government Assistance Program (GAP). Under GAP, the state allocates a portion of its revenue to local governments based on a predetermined formula. This formula considers various factors such as population size, poverty rates, and fiscal capacity of each municipality or county. Another type of revenue sharing agreement in New York is known as the Aid and Incentives for Municipalities (AIM) program. AIM provides financial aid to municipalities that have experienced fiscal stress due to factors such as declining population, economic downturns, or other budgetary challenges. This program assists local governments in maintaining vital services and infrastructure. Counties in New York also have their own revenue sharing agreements, commonly referred to as county revenue-sharing programs. These programs aim to distribute revenue among different towns and cities within a county, ensuring resources are allocated fairly and efficiently at the local level. It is important to note that revenue sharing agreements can vary in scope and terms across different states and jurisdictions. In New York, the state government plays a crucial role in establishing and implementing revenue sharing agreements, emphasizing the importance of collaboration between the various levels of government to ensure balanced economic development and the provision of essential public services.
