This bill establishes a county rental tax specifically for Elmore County, set to take effect on September 1, 2025. It introduces a privilege tax on individuals leasing or renting tangible personal property, with the Revenue Commissioner responsible for calculating the tax rates based on specified formulas. The rates will differ for incorporated and unincorporated areas of the county, with the incorporated areas having a maximum rate of nine and one-half percent minus applicable state and municipal rates, while unincorporated areas will have a minimum rate of five and one-half percent. The bill also mandates that any changes in the rates used for calculations will require the Revenue Commissioner to recalculate and publish new rates.

The proceeds from the rental tax will be directed into the Enhance Elmore Fund, with 90% allocated for infrastructure and 10% for economic development. The county commission is tasked with certifying the tax rates and overseeing the collection and administration of the tax. This new tax is designed to parallel existing state rental taxes, ensuring it applies to the same individuals and transactions. The bill includes provisions for the county commission to adjust rates as necessary and requires public notice of any changes.