15-24-926. Livestock reserve fund. (1) The county treasurer may, at the discretion of the county governing body, deposit up to 5% of the property tax collected each year on livestock or each year on a prorated basis as provided in 15-24-920 in a livestock reserve fund.
     (2) Refunds for overpayment of property tax on livestock must be issued from this fund.
     (3) When the amount in a livestock reserve fund exceeds 10% of the total property tax collected in a year on livestock or each year on a prorated basis as provided in 15-24-920, the excess funds must be transferred to the county general fund and included in the next year's county budget.

     History: En. Sec. 14, Ch. 663, L. 1979; amd. Sec. 4, Ch. 627, L. 1991.