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 existing state and county sales tax rates, with provisions for both incorporated and unincorporated areas of the county. The bill also mandates that the proceeds from this tax be deposited into a newly created Enhance Elmore Fund, which will allocate 90% of the funds for infrastructure and 10% for economic development. Additionally, machinery and equipment subject to certain existing sales taxes will be exempt from this new tax.

The Enhance Elmore Fund will require the county commission to produce an annual report detailing all deposits and expenditures, which must be published on the commission's website by January 31 each year. The Elmore County Firefighter's Association is also required to report on expenditures from the fund, with the commission having the authority to withhold funds from fire departments that fail to comply with reporting requirements. The bill includes provisions for recalculating tax rates in response to changes in existing tax rates and ensures transparency and accountability in the use of the fund's resources.

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