The Commercial Activity Tax (CAT) is a business privilege tax measured by a business’ gross receipts. The CAT was phased-in over a five year period starting with tax year 2005. The CAT replaces the corporate franchise and tangible personal property taxes. As a result of the phase-out of the tangible personal property tax, a distribution was created to reimburse schools and local governments for revenue losses. As of State Fiscal Year 2016, the allocation, after the 0.85% distribution to the administration fund and quarterly CAT motor Fuel Calculation, is as follows: 75.0% to the state's General Revenue Fund, 20.0% to School District Tangible Property Tax Replacement Fund (Fund 7047) and 5.0% to the Local Government Tangible Property Tax Replacement Fund (Fund 7081). The Department of Education reimburses the schools and the Department of Taxation reimburses local governments. As of FY 2016, payments are made through the county auditors every August and February.