Local cash subsidy
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
Where a loan and subsidy contract specifically so provides, a municipality will be required to pay a local cash subsidy, in the minimum amount specified in the contract, regardless of the value of the tax exemption subsidy. Local cash subsidies may also be required under other circumstances, as where the value of the tax exemption is not sufficient to match the State subsidy, or where the operating deficit is in excess of the maximum State subsidy.