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Full Text of Senate Bill 469-Cab...venue Options for Schools. (Local) hfp://www.ncga.state.nc.us/.htmi1997/bills/senate/sbiIO469.full.html <br /> 35 <br /> (c) Nonsupplant Restriction. - - it is the purpose of this <br /> Article for counties to appropriate funds generated under this Article to <br /> increase the level of county spending for public elementary and secondary <br /> school capital outlay above the level of spending before the levy of the <br /> tax authorized in this Article. A county that levies a tax under this <br /> Article shall continue to spend for public school capital outlay purposes <br /> in its local school administrative units the same amount of money it would <br /> have spent for those purposes if it had not levied the tax. <br /> °§ 105- 511. Expiration. <br /> A tax levied under this Article expires 10 years after the <br /> effective date of its levy or most recent extension, unless the voters of <br /> the county approve its extension for an additional 10 years as provided in <br /> this section. During the tenth year after the levy or most recent <br /> extension of the tax authorized in this Article, the county board of <br /> commissioners may direct the county board of elections to conduct an <br /> advisory referendum on the question of whether the tax should be extended <br /> for an additional 10 years. The election shall be held on a date jointly <br /> agreed upon by the two boards and shall be held in accordance with the <br /> procedures of G.S. 163-287. <br /> The form of the question to be presented on a ballot for a <br /> special election concerning the extension of the taxes authorized by this <br /> Article shall be: <br /> [ ] FOR [ ] AGAINST <br /> extension of current one percent (it) local sales and use taxes in <br /> addition to the two percent (2t) local sales and use taxes, to be used <br /> only for public school capital projects. <br /> if the majority of those voting in a referendum held pursuant <br /> to this section vote for the extension of the tax, the board of <br /> commissioners may, by resolution, extend the tax for an additional 10 <br /> years. <br /> The expiration of a tax pursuant to this Article does not <br /> affect the rights or liabilities of the State, a taxpayer, or another <br /> person arising under the expired tax; nor does it affect the right to any <br /> refund or credit of a tax that would otherwise have been available under <br /> the expired tax before its expiration. " <br /> Section 3. Chapter 105 of the General Statutes is <br /> amended by adding a new Article to read: <br /> "ARTICLE 8F. <br /> "Local Government Excise Stamp Tax on Conveyances. <br /> 118 105-228.50. 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 a one percent (1t) land <br /> transfer tax. <br /> 115 105-228.51. County election on adoption of tax. <br /> (a) Resolution. - - The board of commissioners of a county <br /> may, by resolution adopted by the affirmative vote of at least four- <br /> fifths of the commissioners, direct the county board of elections to <br /> conduct an advisory referendum on the question of whether a temporary one <br /> percent (1%) excise tax on instruments conveying interests in real <br /> property located in the county will be levied in accordance with this <br /> Article. The election shall be held on a date jointly agreed upon by the <br /> two boards, and shall be held in accordance with the procedures of G.S. <br /> 3 of 6 05/15/97 09:10:14 <br />