Targeted Fiscal Assistance Act of 1987

Summary

Targeted Fiscal Assistance Act of 1987 - Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to repeal provisions that terminated the general revenue sharing program. Restores program provisions as they existed before enactment of such Act. Replaces the general revenue sharing program with the Targeted Fiscal Assistance (TFA) program. Authorizes appropriations for TFA for FY 1988 through 1990. Provides for special allocations of TFA funds for Indian tribes, Alaskan native villages, and the District of Columbia. Directs the Secretary of the Treasury to allocate TFA funds to each State (for subsequent allocation to local governments) according to a specified formula based on the need factor, the general tax effort factor, and the relative fiscal gap factor, as defined in this Act, for each State. Entitles local governments to a portion of such State funds according to a specified formula based on the following factors, as defined in this Act, for each unit of local government relative to all units in such State: (1) the unit's population; (2) the unit's general tax effort factor; and (3) the unit's population. Eliminates provisions allowing State variation of local government allocations. Revises procedures for determining maximum and minimum limitations on local government entitlements.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 6 March 1987

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.