Allowable state tax revenues for a fiscal year shall be reduced, if, after the effective
date of this chapter, by an enactment of the general court, authority is granted to
local governmental units by local option or otherwise to impose or levy a new, or
to increase an existing, tax or excise. The amount by which allowable state tax revenues for such fiscal year shall be reduced
shall be as nearly as possible equal to the additional amount of revenues to be derived
by local governmental units by the tax or excise as determined by the Commissioner. Provided, however, that any reduction in allowable state tax revenues for a fiscal
year required by this subsection shall first occur in the allowable state tax revenues
for the fiscal year beginning immediately after the effective date of the enactment
of the general court which gives rise to the reduction herein required.
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