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/4A <br />INDIAN RIVER COUNTY, FLORIDA <br />BOARD MEMORANDUM <br />TO: Jason E. Brown, County Administrator PUBLIC HEARING <br />FROM: Richard B. Szpyrka, P.E., Public Works Director <br />SUBJECT: Local Option Gas Tax Distribution Percentages <br />DATE: May 4, 2020 <br />DESCRIPTION AND CONDITIONS <br />As required by Chapter 209 of the Indian River County Code, the Board of County <br />Commissioners shall conduct a Public Hearing every two years in May to approve a revenue <br />distribution formula for the 6¢ Local Option Gas Tax. This tax revenue is currently shared <br />with the five municipalities based upon a formula as follows: <br />"The percentage of total revenue allocated to each eligible entity equals one- <br />third of the entity's percentage of total equivalent lane miles of road plus one- <br />third of the entity's percentage of transportation expenditures. over the previous <br />five years plus one-third of the entity's total percentage of population residing in <br />the area based upon the most recent estimate from the Florida Bureau of <br />Economic and Business Research." <br />This formula has been used over the past 33 years. <br />Attached is the 2020 updated table for computation of the Local Option Gas Tax Distribution <br />Percentages. The new percentages will be sent to the Florida Department of Revenue for <br />implementation by September 1, 2020. <br />RECOMMENDATIONS <br />Staff recommends approval of the 2020/2021 revenue distribution percentages. <br />ATTACHMENT <br />Chapter 209 <br />LOGT Chart/Spreadsheet <br />Public Hearing Advertisement <br />April 2020 Sample Letter to Municipalities <br />APPROVED AGENDA ITEM FOR MAY 19. 2020 <br />110 <br />