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Y <br />1*~ 14, 669 <br />(b) for revenues lost because of the exemption of food <br />stamp purchases from local sales tax; <br />(c) for revenue lost because of the "Homestead Exemption" <br />applied to certain residential property; <br />(d) for revenues lost because of repeal of local taxes on <br />inventories of manufacturers; <br />(e) for revenues lost because of repeal of local taxes <br />on inventories of retailers and wholesalers; and <br />WHEREAS, the General Assembly formerly provided for an <br />automatic distribution of local revenues collected by the State from <br />excise taxes on beer and wine; by franchise taxes imposed on <br />utilities operating within municipalities, and by those taxes still <br />imposed on intangible personal property; and <br />WHEREAS, the General Assembly made these locally collected <br />revenues subject to appropriation at the end of the 1989-90 fiscal <br />year and in 1991 froze these appropriations at the 1990-91 levels and <br />retained the money generated by growth in these tax revenues; and <br />WHEREAS, Representative Anne Barnes of Orange County <br />introduced House Bill 916 which is a bill to provide that <br />distributions and reimbursements to local governments shall be <br />provided by earmarking rather than by appropriation and to remove the <br />cap on these distributions and reimbursements that was adopted in <br />1991; and <br />WHEREAS, the Board of Commissioners for Lee county feel <br />that the enactment of House Bill 916 is necessary to restore fiscal <br />integrity to local government and is fair and equitable in light of <br />the legislative history of said tax revenues; <br />NOW, THEREFORE, Be It Resolved by the Board of <br />Commissioners for Lee County as follows: <br />1. That it urges the passage of House Bill 916 as <br />originally introduced by Representative Anne <br />Barnes of Orange County. <br />2. That it requests its legislative delegation to work <br />for and support the passage of House Bill 916. <br />3. That it commends the actions of the North Carolina <br />Association of County Commissioners in support of the <br />passage of House Bill 916. <br />4. That it urges all of the citizens of Lee County to <br />9 <br />