Agenda - 05-21-1997 - 5a - Laserfiche WebLink

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Full Text of Senate Bill 469-Cab...venue Options for Schools. (Local) http://www.ncga.state.nc.us/.html1997/bills/senate/sbi10469.fuil.html 37 land for public school buildings. A county shall not use the proceeds to pay debt service or to fund a public school building capital outlay project that is or will be financed in part by debt. (b) Nonsupplant Restriction. - - It is the purpose of this Article for counties to appropriate funds generated under this Article to increase the level of county spending for public elementary and secondary school capital outlay above the level of spending before the levy of the tax authorized in this Article. A county that levies a tax under this Article shall continue to spend for public school capital outlay purposes in its local school administrative units the same amount of money it would have spent for those purposes if it had not levied the tax. "S 105-228.55. Expiration. A tax levied under this Article expires 10 years after the effective date of its levy or most recent extension, unless the voters of the county approve its extension for an additional 10 years as provided in this section. During the tenth year after the levy or most recent extension of the tax authorized in this Article, the county board of commissioners may direct the county board of elections to conduct an advisory referendum on the question of whether the tax should be extended for an additional 10 years. The election shall be held on a date jointly agreed upon by the two boards and shall be held in accordance with the procedures of G.S. 163-287. The form of the question to be presented on a ballot for a special election concerning the extension of the taxes authorized by this Article shall be: [ ] FOR [ ] AGAINST extension of current county real property transfer tax at the rate of one dollar ($1. 00) on each one hundred dollars ($100.00) of value or consideration, to be used only for public school capital projects. If the majority of those voting in a referendum held pursuant to this section vote for the extension of the tax, the board of commissioners may, by resolution, extend the tax for an additional 10 years. The expiration of a tax pursuant to this Article does not affect the rights or liabilities of the State, a taxpayer, or another person arising under the expired tax; nor does it affect the right to any refund or credit of a tax that would otherwise have been available under the expired tax before its expiration. "S 105-228.56. Repeal of tax. A county may, by resolution, repeal a tax levied under this Article. Repeal of the tax shall become effective on the first day of a month and may not become effective until the end of the fiscal year in which the repeal resolution was adopted. Repeal of a conveyance tax under this Article does not affect a liability for a tax that attached before the effective date of the repeal or reduction, nor does it affect a right to a refund of a tax that accrued before the effective date of the repeal or reduction. " Section 4. This act is effective when it becomes law. Section 5. A tax levied under Article 43 of Chapter 105 of the General Statutes, as enacted by this act, does not apply to construction materials purchased to fulfill a lump sum or unit price contract entered into or awarded before the effective date of the levy or entered into or awarded pursuant to a bid made before the effective date of the levy when the construction materials would otherwise be subject to the tax levied under Article 43 of Chapter 105 of the General Statutes. 5 of 6 05/15/97 09:10:14