(1) If a qualifying local government unit reduces its general tax effort for any fiscal year, below the level of fiscal year 1991 -92, that governmental unit shall forfeit funds that would otherwise be available under the provisions of KRS 42.450 to 42.495 on a dollar-for-dollar basis. (2) For purposes of this section, "general tax effort" shall mean the total revenues raised in fiscal year 1991 -92 from the levy of all of the taxing district's taxes in fiscal year 1991 -92. Taxes based upon the 1991 assessment of property shall be considered to be taxes levied and collected for fiscal year 1991-92.
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