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Under the new schedule, the local government aid payment will De ) "Qm° ' <br />to you in six equal installments - -on July 159 August 15, September 15, <br />October 15 November 15 and December 15. pa from the aid <br />In addition to receiving thelocgov ivina h attached machinery <br />Department of Revenue, You als e b e e n rec <br />aid payment and the homestead credit Payme <br />Under the old schedule of payments, the attached machinery aid and the <br />homestead credit were paid to you in two equal installments - -on July 15 <br />and November 15. <br />Under the new schedule, you will be paid the attached machinery aid and [its and the two new aids-- <br />hoestea e <br />dates that you will be receiving <br />the local government aid payment. <br />In other words, you will be receiving payment for all aids -- including <br />the local government aid and attachemchi all creditss includ ng <br />aids- -and you will be receiving paymen <br />• <br />creditsewillebe made toayouh�nssmx equa installme ts the 15th <br />month beginning July 15 and ending December 15. <br />• There is one point to be made aboutt he amount of your local government <br />aid payment. <br />For this year only, the six equal payments of local government aid you'll <br />be receiving starting today and ending December 15 will add up to only <br />75 percent of your total local government aid for the year. payments <br />This is because, back on March 15, when the old schedule of <br />was in effect, you ec ived check for 25 percent of your total local <br />government aid paym <br />There is a reaso n for the new schedule. Under the p a e sum t in c six small <br />conditions, the state is mine out same mnount in four or two larger <br />payments than er is of paying <br />p t ayments. Under the present conditions, there is not enough revenue coming the pnayments required be noJulyl15uand Nov shed n In <br />fact. this ye the six smaller payments established by <br />ar, even to make <br />the new payment schedule the state is going to have to borrow money. <br />If you have any questions about the amount of aids anentsedcallyou are <br />receiving or about the change in the schedule of paym <br />Wallace O...Dahi..Director. Local„ Government Aids ,& Analysis Division <br />I at X612) 296 -2246. <br />Best regards, <br />CLYDE E ALLEN. JR. <br />Commissioner of Revenue <br />CEA/DJE /dlw ; <br />2 <br />