Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
County Revenue Sharing and Revenue Sharing Reserve Fund
CRS:
For FY 2024, each county is eligible to receive:
- A CRS-Standard payment equal to 116.459281856% of the county's CRS Full Funding amount less the county's FY 2024 CIP eligible amount
- A CRS-CLFRF (Coronavirus Local Fiscal Recovery Fund) payment equal to 1% of the county's FY 2023 ongoing CRS payment amount and eligible FY 2023 CIP payment amount
- A CRS-PS (Public Safety) payment equal to 2% of the county's FY 2023 ongoing CRS payment amount and eligible FY 2023 CIP payment amount
Below is a link to the Detailed Guidance emailed to the counties on September 21, 2023. A certification of CLFRF funds must be completed by 11:59 PM on March 30, 2024, see Detailed Guidance.
CRS-CLFRF
For fiscal year (FY) 2024, the Legislature passed the County Revenue Sharing - 1% Coronavirus Local Fiscal Recovery Fund (CRS-CLFRF) program.
Each County is eligible to receive a CRS-CLFRF (Coronavirus Local Fiscal Recovery Fund) payment equal to 1% of the county's FY 2023 ongoing CRS payment amount and eligible FY 2023 CIP payment amount.
To qualify for this payment, each eligible county must:
- Meet all the County Incentive Program (CIP) requirements (CVTRS/CIP Certification Form 4886, Debt Service Report, and Projected Budget Report);
- "Fully Obligate" or expend by December 31, 2023, or have declined, the total amount of 2021 American Rescue Plan Act funds (Public Law 117-2) allocated to the county;
- Submit a CVTRS/CRS-CLFRF Form 6056 Certification form to the Michigan Department of Treasury by March 30. 2024;
Below is a link to the Detailed Guidance emailed to each county on September 21, 2023.