Orange County NC Website
Browse       Search
Full Text of Senate Bill 469-Cab...venue Options for Schools. (Local) http://www.ncga.state.nc.us/.htm11997/bills/senate/sbi10469.full.html <br /> 33 <br /> GENERAL ASSEMBLY OF NORTH CAROLINA <br /> SESSION 1997 <br /> S1 <br /> SENATE BILL 469* <br /> Short Title: Cabarrus Revenue Options for Schools. (Local) <br /> Sponsors: Senator ill. <br /> Referred to: Finance. <br /> March 24, 1997 <br /> A BILL TO BE ENTITLED <br /> AN ACT TO REDUCE RELIANCE ON DEBT FOR PUBLIC SCHOOL CONSTRUCTION IN <br /> CABARRUS COUNTY BY AUTHORIZING THE COUNTY TO LEVY A TEMPORARY <br /> SALES AND USE TAX OF ONE PERCENT,A TEMPORARY ONE PERCENT LAND <br /> TRANSFER TAX, OR BOTH,IF APPROVED BY THE VOTERS OF THE COUNTY, FOR <br /> PUBLIC SCHOOL CONSTRUCTION. <br /> Additional Information Available on: Bill Status <br /> Section 1. This act applies only to Cabarrus County. <br /> Section 2. Subchapter VIII of Chapter 105 of the General <br /> Statutes is amended by adding a new Article to read: <br /> "ARTICLE 43. <br /> "Second One-Cent (lcents) Local Government <br /> Sales and Use Tax. <br /> 115 105-505. Short title. <br /> This Article shall be known as the Second One-Cent (lcents) <br /> Local Government Sales and Use Tax Act. <br /> of 105- 506. Purpose. <br /> This Article gives the counties of this State an opportunity to <br /> obtain a temporary source of revenue with which to meet their public <br /> school construction needs. It provides all counties of the State that are <br /> subject to this Article with authority to levy one percent (11t) sales and <br /> use taxes. <br /> "§ 105- 507. Limitations. <br /> This Article applies only to counties that levy the first <br /> one-cent (lcents) sales and use tax under Article 39 of this Chapter or <br /> under Chapter 1096 of the 1967 Session Laws, the first one- half cent <br /> (1 12cents) local sales and use tax under Article 40 of this Chapter, and <br /> the second one-half cent (1 12cents) local sales and use tax under Article <br /> 42 of this Chapter. <br /> "S 105- 508. County election on adoption of <br /> tax. <br /> 1 of 6 05/15/97 09:10:14 <br />