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SL2007-0323 Page 258 of 272 <br />SECTION 31.16.3.(b) G.S. 105-520 reads as rewritten: <br />"§ 105-520. Distribution of taxes. <br />(a) Point of Origin. -The Secretary must, on a monthly basis, allocate to each taxing <br />county -___-'___'~' _~` the net proceeds of the tax collected in that county under this Article. If the <br />Secretary collects taxes under this Article in a month and the taxes cannot be identified as being <br />~ _yr. <br />attributable to a particular taxing county, the Secretary must allocate ~--er_ t e net <br />proceeds of these taxes among the taxing counties in proportion to the amount of taxes collected <br />m each county under this Article in that month. <br />(c) Distribution Between Counties and Cities. -The Secretary must divide and distribute <br />the funds allocated under this section each month between each taxing .county and the <br />municipalities located in the coLUlty in accordance with the method by which the one percent <br />(1 %) sales and use taxes levied in that county ppursuant to Article 3 9 of this Chapter or Chapter <br />1096 of the 1967 Session Laws are distributed. No municipality may receive any fiends under <br />this subsection for a month if it is not entitled to a distribution under G.S. 105-501 for the same <br />month." <br />SECTION 31.16.3.(c) G.S. 105-521 reads as rewritten: <br />"§ 105-521. Transitional local government .hold harmless for repealed <br />reimbursements. <br />(a) Definitions. -The following defmitions apply in this section: <br />(1) Local government. - A county or mumcipality that received a distribution of <br />local sales taxes in the most recent fiscal year for which a local sales tax share <br />has been calculated. <br />(2) Local sales tax share. - A local governrrient's percentage share of the two-cent <br />(2¢) sales taxes distributed during the most recent fiscal year for which data are <br />available. <br />(3) Repealed reimbursement amount. -The total amount a local government <br />would have been entitled to receive during the 2002-2003 fiscal year under <br />G.S. 105-164.44C, 105-275.1, 105-275.2, 105-277.001, and 105-277.1A, if <br />the Governor had not withheld any distributions under those sections. <br />3a <br />the 1967 Session Laws other than revenue from the sale of food that is <br />subject to local tax but is exempt from State tax under <br />G.S. 105-164.13B. <br />(4) Two-cent 2¢) sa es taxes. -The first one-cent (1¢) sales and use tax <br />authorized in Article 39 of this Cha ter and in Chapter 1096 of the 1967 <br />Session Laws, the first one-half cent (pl/2¢) local sales and use tax authorized <br />in Article 40 of this Chapter, and the second one-half cent (1/2¢) local sales <br />and use tax authorized in Article 42 of this Chapter. <br />(b) Distributions. - On or before August 15, ~8f3-'3; 2008, and every August 15 through <br />August 15, 2012, the Secretary must multiply each local government's local sales tax share by <br />the estimated amount of replacement revenue that all local governments ~~c~~1-he-are expected <br />to receive during the current fiscal <br />Hits-r4r~el~~f~~= year. If the resulting amount is less than one hundred percent (100%) of the <br />local government's repealed reimbursement amount, the Secretary must pay the local <br />government the difference, but not less than one hundred dollars ($100.00). <br />b. Twentv- eve percent 25%) of the amount of sales and use tax revenue <br />