2005:3a

(a) Assessment Limits and Maximum. All churches shall be subject to full assessment on all assessable income up to $500,000. Above that level, there shall be a graduated reduction in the percentage applied. For that portion of a church’s assessable income between $500,000 and $1,000,000, there shall be a reduction of one in the total percentage divided proportionately between the USF-General Fund and the USF-Educational Institutions Fund. For that portion between $1,000,000 and $2,000,000, there shall be a reduction of two in the total percentage divided proportionately between the two funds. For that portion that exceeds $2,000,000, there shall be no assessments. The percentage in each case shall be applied to the same base income as defined in 2005:1 subject to the exceptions and adjustments set forth in 2005:3b-f.