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Comprehensive Plan Capital Improvements Element The One to Five Cent Local Option Fuel Tax is a one to five cents tax that can be levied upon every gallon of motor fuel sold in Indian River County. Revenues from this fuel tax must be shared among all eligible jurisdictions in the county as a result of an interlocal agreement or by an historical transportation expenditures formula. Authorized uses for revenue collected from the One to Five Cent Fuel Tax include transportation expenditures needed to meet the requirements of the Capital Improvements Element of the Comprehensive Plan . A Professional Sports Franchise Facility Tax is a levy of up to I % on any lodging agreement for six months or less, within Indian River County. Revenue from this tax may be used to pay the debt service on bonds issued to finance the construction, reconstruction, or renovation of a professional sports franchise facility. State Sources Revenue classified as state sources may be generated locally but collected by the state and returned to the county. For example, state sources may originate from state general revenues and be shared by the state according to state revenue allocation formulas. Table 6. 1 displays the state revenue sources applicable to Indian River County. These sources are described in further detail below. • Local Government Half-Cent Sales Tax The Local Government Half Cent Sales Tax Program allocates 8 . 814% of net sales tax j Figure 6. 10: Half Cent Sales Tax Revenue proceeds remitted by sales tax dealers in a county to a special account administered by $10,000 $9,000 $8,747 the Department of Revenue ; this account is - the Local Government Half Cent Sales Tax $8,000 $7.002 Clearing Trust Fund. These funds are then $7,000 $6,20$ asszt assn _ earmarked for distribution to the governing $6,000 body of the county and each municipality $5, 000 - within the county. Distribution of these $4' 000 monies within the county is determined by a j $3,000 formula that uses a weighting factor based $2,000 on the population of the incorporated and $1 ,000 unincorporated areas and multiplies this factor by 8 . 814% of the sales tax proceeds 2000 2001 2002 2003 zooa 2005 received for the county. In FY 20034/045 , ® Revenue (in thousands) Indian River County received $7 , 564 ,0008 , 747,00 through the hall-cent Source: Indian River County Finance Department sales tax. As shown in table 6. 1 , that amount represented 3.76') . 45 % of all funds collected by Indian River County during the 20034/045 fiscal year. Community Development Department Indian River County 13