This bill amends existing laws regarding county sales and use taxes specifically for capital improvements. It allows counties to refer changes in the allocation or distribution of revenues from these taxes to voters, ensuring that any modifications are subject to public approval. The bill also prohibits municipalities from pledging revenues from the county sales and use tax for the repayment of bonds, thereby safeguarding these funds for their intended purposes.

Key amendments include the clarification that municipalities and counties can only pledge existing taxes for bond repayment under specific conditions, and it establishes a process for counties to seek voter approval for changes in revenue use or distribution. Additionally, if voters do not approve proposed changes, the existing allocation and distribution of revenues will remain unchanged. The bill aims to enhance local governance by providing a structured approach to managing tax revenues while ensuring that community input is prioritized in decision-making processes.

Statutes affected:
Old version SB394 V2 - 3-13-2025 02:33 PM: 14-164-337(a), 26-74-208(c), 03-13-2025, 26-74-214(c)
Old version SB394 Original - 3-5-2025 03:37 PM: 14-164-337(a), 26-74-208(c), 26-74-214(c)
SB 394: 14-164-337(a), 26-74-208(c), 26-74-214(c)