State and Local Fiscal Assistance Act of 1983

[AI summary unavailable — showing source text] State and Local Fiscal Assistance Act of 1983 - Amends title 31 (Money and Finance) of the United States Code to revise the procedure for allocating revenue sharing funds. Directs the Secretary of the Treasury to make entitlement payments out of the State and Local Government Fiscal Assistance Trust Fund for each entitlement period to each qualifying State and unit of general local government. Makes appropriations to the Trust Fund for each entitlement period in an amount equal to four percent of the amounts received into the Treasury during the preceding fiscal year that are attributable to income taxes imposed by the Internal Revenue Code. Revises the qualification procedures for entitlement to revenue sharing funds. Sets forth a new formula for the allocation of funds among the States. Requires the Secretary to develop a representative tax system to be used in applying the revenue sharing provisions. Defines such a system as a method of determining the fiscal capacity of a government by estimating the revenue such government would raise if it applied a national uniform set of tax rates to a specified set of tax bases and collected equal per capita user fees and charges. Requires…