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Historical Distribution of One Cent of the Tourist Development Tax Year Total One Cent Ended Tourist Tourist Sept. 30 Tax Collected Tax 1991 $356,653 $178,327 1992 $332,282 $166,141 1993 $419,471(1) $209,736 1994 $551,983 $183,994 1995 $671,295 $223,765 1996 $873,393 $291,131 1997 $982,023 $327,341 1998 $1,000,084 $333,361 1999 $1,058,842 $352,947 2000 $1,114,916 $371,639 Note: (1) A$.01 increase was imposed effective September 1, 1993 Source: Indian River County Finance Department Local Government Half-Cent Sales Tax Pursuant to Chapter 212,Part I,Florida Statutes,the State of Florida is authorized to levy and collect a sales tax on, among other things, the sales price of each item or article of tangible personal property sold at retail in the State of Florida, subject to certain exceptions and dealer allowances as set forth in Chapter 212. Chapter 212 was amended in 1982 and again in 1986,to increase the sales tax from 4%to 5%and then from 5%to 6%. Chapter 218, Florida Statutes, was amended in 1982 to add Part VI thereto entitled 'Participation in Half-Cent Sales Tax Proceeds." Pursuant to Chapter 218, Part VI, which became effective October 1, 1982, one-half of the net additional taxes remitted to the State of Florida pursuant to Chapter 212 by a sales tax dealer located within a county is required to be deposited in the Local Government Half-Cent Sales Tax Clearing Trust Fund in the State Treasury(the"Trust Fund") and earmarked for distribution to the governing body of that county and of each municipality within the county pursuant to a distribution formula. Such moneys are referred to in Chapter 218, Part VI, as the Local Government Half-Cent Sales Tax. The Half-Cent Sales Tax is distributed from the Trust Fund on a monthly basis to participating units of local government. To be eligible to participate in the Half-Cent Sales Tax the counties and municipalities must comply withcertain requirements set forthin Section 218.63, Florida Statutes. 13