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(f) Meeting the non-federal matching requirements for Bureau of Reclamation projects. <br />A recipient may use funds to meet the non-federal matching requirements of any authorized <br />Bureau of Reclamation project. <br />§ 35.7 Pensions. <br />A recipient (other than a Tribal government) may not use funds for deposit into any <br />pension fund. <br />§ 35.8 Tax. <br />(a) Restriction. A State or Territory shall not use funds to either directly or indirectly <br />offset a reduction in the net tax revenue of the State or Territory resulting from a covered change <br />during the covered period. <br />(b) Violation. Treasury will consider a State or Territory to have used funds to offset a <br />reduction in net tax revenue if, during a reporting year: <br />(1) Covered change. The State or Territory has made a covered change that, either based <br />on a reasonable statistical methodology to isolate the impact of the covered change in actual <br />revenue or based on projections that use reasonable assumptions and do not incorporate the <br />effects of macroeconomic growth to reduce or increase the projected impact of the covered <br />change, the State or Territory assesses has had or predicts to have the effect of reducing tax <br />revenue relative to current law; <br />(2) Exceeds the de ininimis threshold. The aggregate amount of the measured or predicted <br />reductions in tax revenue caused by covered changes identified under paragraph (b)(1) of this <br />section, in the aggregate, exceeds 1 percent of the State's or Territory's baseline; <br />431 <br />