The Transportation Referendum has passed in the regions of Central Savannah, Heart of Georgia, and River Valley. These regions will implement a one percent regional sales tax to fund transportation improvements. Collection of these Transportation Investment Act (TIA) funds began on January 1, 2013. GSFIC will transfer the 25% distributions for the local government allocations monthly.
The below files reflect TIA collections and the 25% distributions to the local governments. Monthly TIA proceeds are reported to the Department of Revenue the month following the collection period. For example, June 2013 collections are due to be reported to the Dept. of Revenue by July 20, 2013, and not deposited to GSFIC until July 30, 2013. The 25% distributions to the local governments was then made on July 31, 2013. The “Tax Collection Month” references the month TIA proceeds were collected by local vendors. The “Payment Settlement Date” reflects the date the 25% distributions were made by GSFIC to the local governments within each special district. Beginning with the July 2013 collections, the 25% local government distributions will be based on revised FY2014 LARP factors. (January through June 2013 collections were allocated to the local governments based on the FY2013 LARP factors).
As of August 31, 2013, GSFIC has received TIA collections covering January 2013 through July 2013. The August 2013 collections are expected to be received near the end of September 2013.