Senate committee substitute makes the following changes to 1st edition. Specifies that the City of Roanoke Rapids, with a ballot initiative, is authorized to levy a 1% sales and use tax for the purpose of repaying debt related to the tax increment financing bonds issued to finance the Roanoke Rapids Theatre, formerly known as the Randy Parton Theatre. Makes some organizational changes.
Bill S 312 (2011-2012)Summary date: Jun 7 2011 - View summary
Bill S 312 (2011-2012)Summary date: Mar 9 2011 - View summary
Amends Chapter 105 to create a new Article 47 authorizing the city of Roanoke Rapids to levy, by referendum, a one cent municipal sales and use tax. Net proceeds of the tax shall be used only for repayment of tax increment financing bond debt incurred by the city. Provides for the expiration of the tax.