Dictionary of Accounting Terms: general revenue sharing
general revenue sharing
unrestricted funds provided by the federal government to the fifty states and to cities, towns, counties, etc., under the State and Local Fiscal Assistance Act of 1972, which expired in 1987. These funds could be used for any purpose by the recipient governments.
Dictionary of Finance and Investment Terms: general revenue sharing
general revenue sharing
unrestricted funds (which can be used for any purpose) provided by the federal government until 1987 to the 50 states and to more than 38,000 cities, towns, counties, townships, Indian tribes, and Alaskan native villages under the State and Local Fiscal Assistance Act of 1972.
