This 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 existing state and county sales tax rates, with the final rate published by August 1, 2025. The bill outlines different rates for incorporated and unincorporated areas of the county, ensuring that if the calculation results in a negative number, no tax will be levied in that area. Additionally, machinery and equipment subject to existing sales tax laws 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