May 28, 2020 | By Local Community Stabilization Authority (LCSA) |
On May 20, 2020, the Local Community Stabilization Authority distributed more than $131 million of local community stabilization share (LCSS) revenue to cities, villages, counties, community colleges and other local governments. Municipalities should record the revenue in account 573, Local Community Stabilization Share Tax. Schools should record the revenue in revenue major class code 321, suffix 0000.
The LCSA is only responsible for the distributions so we cannot answer questions regarding calculations. Please visit the Michigan Department of Treasury’s Personal Property Tax Reimbursements webpage at www.michigan.gov/pptreimbursements for information regarding calculations. Please contact the LCSA at email@example.com if you have questions regarding the distribution of local community stabilization share revenue.