SPONSOR: Jordan
This bill authorizes the governing body of a county with more than 9,900 but fewer than 11,000 inhabitants and with a county seat with more than 1,000 but fewer than 1,500 inhabitants to, upon voter approval, adopt a sales tax by order or ordinance.
The proceeds of the tax can be used solely for providing funding for the operation and maintenance of county facilities.
The tax can be imposed in increments of 1/8 of 1% and must not exceed 1%.
The proceeds of the tax will be deposited in a special trust fund, known as the "County Facilities Sales Tax Fund". Moneys in the special fund that aren't needed for current expenditures can be invested in the same manner as other moneys. Any interest on these investments will be credited to the Fund. Not later than the 10th day of each month the director of the Department of Revenue will distribute all moneys in the Fund to the county that levied the tax.
The governing body of the county can repeal the tax, subject to voter approval.
Upon enactment, this bill will apply only to Bollinger County.
Statutes affected: