The bill establishes a county sales and use tax specifically for Elmore County, set to take effect on September 1, 2025. The tax rate will be calculated by the Revenue Commissioner using a specified formula that considers various existing tax rates, ensuring that the final rate is rounded to the nearest tenth of a percent. The bill outlines different rates for incorporated and unincorporated areas of the county, with provisions for recalculating the rates if there are changes in the referenced tax rates. Additionally, machinery and equipment subject to a specific sales tax will be exempt from this new tax.

The proceeds from the newly levied tax will be deposited into a newly created Enhance Elmore Fund, with 90% allocated for infrastructure and 10% for economic development. The county commission is required to produce an annual report detailing the fund's deposits and expenditures, and the Elmore County Firefighter's Association must report on any fund expenditures related to fire departments. The commission has the authority to withhold funds from fire departments that fail to report as required, reallocating those funds for public safety purposes. The act will become effective on June 1, 2025.

Statutes affected:
Introduced: 40-23-2
Enrolled: 40-23-2