Bill Summary for H 903 (2015-2016)
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| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO GIVE COUNTIES INCREASED FLEXIBILITY WITHIN THEIR CURRENT AUTHORITY FOR LOCAL SALES AND USE TAX, TO ENABLE CITIES TO MAINTAIN THEIR LEVEL OF SERVICE BY PROVIDING A REPLACEMENT SOURCE OF REVENUE FOR THE REPEALED CITY PRIVILEGE LICENSE TAX, TO PROVIDE STABILIZATION OF FUTURE MUNICIPAL REVENUES, AND TO MAKE OTHER CHANGES TO LOCAL SALES AND USE TAX LAWS.Intro. by Saine.
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Bill summary
Enacts a new Article 43A, County Sales and Use Tax, in GS Chapter 105. Allows the county to choose to use this source of revenue to finance local public transportation systems or for general purposes. Allows a board of county commissioners to levy a local sales and use tax of 0.25% by resolution if (1) if a majority of those voting in a special election approve the levy of the local sales and use tax and the county has given not less than 10 days' public notice or(2)if no election has been held within five years in which the tax has been defeated and the county has given not less than 10 days' public notice of and held a public hearing. Provides for the administration of the tax. Requires a tax levied by a county under this Article to reduce, by the amount levied, the tax authorized to be levied by the county under Article 43 (Local Government Sales and Use Taxes for Public Transportation).
Amends GS 105-506 to make conforming changes. Allows Article 43 (Local Government Sales and Use Taxes for Public Transportation) to be used by counties and transportation authorities to finance local public transportation or for general purposes.
Amends Article 46 (One-Quarter Cent (1/4) County Sales and Use Tax Act)to allow a board of commissioners to levy a local sale and use tax of 0.25% by resolution if: (1)the majority of those voting in a referendum held pursuant to this Articleapprove the levy of the local sales and use tax and the county has given not less than 10 days' public notice or (2)if no election has been held within five years under the provisions of this section in which the tax has been defeated and the county has given not less than 10 days' public notice of and held a public hearing.
Enacts new Article 47 (One-Quarter Cent (1/4) City Sales and Use Tax) in Subchapter VIII of GS Chapter 105. Defines the following terms as they are used in Article 47: (1) city, (2) council, and (3) net proceeds. Allows a city council, by resolution, to levy a city sales and use tax at the rate of 0.25%, in addition to any other state or local sales and use tax. Provides that a city may use the net proceeds of a tax levied under this Article for any public purpose.