ROANOKE RAPIDS LOCAL OPTION SALES TAX.

View NCGA Bill Details2019-2020 Session
House Bill 112 (Local) Filed Tuesday, February 19, 2019
AN ACT TO AUTHORIZE THE CITY OF ROANOKE RAPIDS TO LEVY A MUNICIPAL ONE PERCENT SALES AND USE TAX.
Intro. by Wray.

Status: Ref To Com On Rules and Operations of the Senate (Senate action) (Jul 15 2019)

SOG comments (1):

Long title change

House committee substitute to the 1st edition changed the long title. Original long title was AN ACT TO AUTHORIZE THE LEVY OF A MUNICIPAL ONE PERCENT SALES AND USE TAX.

H 112

Bill Summaries:

  • Summary date: Jun 26 2019 - More information

    House committee substitute to the 1st edition makes the following changes.

    Amends GS 105-541 to add to that ballot language that the 1% sales and use tax is to be used exclusively for the payment of debt service on debt incurred to finance the Roanoke Rapids Theatre (previously the act allowed the proceeds of the tax to provide for, when due, payments with respect to debt service or other obligation or means of supporting capital costs, together with any other related reserve requirements, for the Roanoke Rapids Theatre). Makes conforming changes. Deletes the provisions concerning the repeal of the tax and instead requires the Roanoke Rapids City Council, by resolution, to terminate the levy and imposition of the tax on the earlier of when the debt on the Roanoke Rapids Theatre has been paid or 15 years after the effective date of its levy. Makes the termination effective on the first day of a month and prohibits it from becoming effective until the end of the fiscal year in which the repeal resolution was adopted. Sets the authority of Roanoke Rapids to levy the tax to expire when the levy and imposition of the tax is terminated. Makes organizational changes to the act. Makes conforming changes to the act's long title. 

     


  • Summary date: Feb 19 2019 - More information

    Applicable only to the City of Roanoke Rapids, enacts Article 47 to GS Chapter 105. Subject to voter approval, authorizes the City to levy a one percent sales and use tax in addition to any other State and local sales and use taxes levied. Requires the tax to be levied by resolution and only after 10 days' public notice. Sets parameters for an election on the question, and provides ballot language. Provides for the administration of the tax. Requires the Secretary of Revenue to monthly distribute the net proceeds collected from the tax to the City, and provides for apportionment in situations where proceeds cannot be identified as attributable to a particular taxing municipality. Specifies that amounts collected by electronic funds transfer payments are included in the monthly distribution in which the return that applies to the payment is received.

    Requires the City to use the net proceeds of the tax levied under Article 47 for payment of debt service or other obligations or means of supporting capital costs, together with any related reserve requirements, for the Roanoke Rapids Theatre. Allows for the repeal of the tax levied by resolution, and requires repeal when the renegotiated loan payment on the Roanoke Rapids Theatre has been paid. Provides parameters and effect of a repeal. 

     


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