Agenda - 08-30-2007-4 - Laserfiche WebLink

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SL2007-0323 Page 261 of 272 The Secretary must divide and distribute the funds allocated to a taxm cg_ ounty eacn montn under this section between the county and the municipalities located in the county in accordance with the method by which the one percent (1 %) sales and use taxes levied in that county pursuant to Article 39 of this Chapter or Chapter 1096 of the 1967 Session Laws are distributed. No municipality may receive any funds under this section if it was incorporated with an effective date of on or after January 1, 2000, and is disqualified from receiving fiends Colder G.S. 136-41.2. No municipality may receive any funds under this section, incorporated with an effective date on or after January 1, 2000, unless a majority of the mileage of its streets are open to the .public. _ _ _ b~.--) Deductions. - In determining the net proceeds of the tax to be distributed, the Secretary ~?h~~nust deduct from the collections to be allocated an amount equal to one-twelfth of the costs during tie preceding fiscal year of: (1) The Department of Revenue in performing the duties imposed by G.S. 105-275.2 and by Article 15 of this Chapter. (la) Seventy percent (70%) of the expenses of the Department of Revenue in performing the duties imposed by Article 2D of this Chapter. (2) The Property Tax Commission. 3) The School of Government at the University of North Carolina at Chapel Hill in operating a training program in property tax appraisal and assessment. (4) The personnel and operations provided by the Department of State Treasurer for the Local Government Commission. SECTION 31.16.4.(c) G.S. 105-522(a), as enacted by Section 31.16.3(f) of this act, reads as rewritten: "(a) Definitions. -The following definitions apply in this section: (1) Eligible municipality. - A municipality that was incorporated on or before October 1, 2008, and receives a distribution of sales and use taxes under G. S: 105 -472. (2) Hold harmless amount. -The sum of the following: a. Fifty percent (50%) of the amount of sales and use tax revenue distributed under Article 40 of this Chapter to the municipality for a month, other than revenue from the sale of food that is subject to local tax but is exempt from State tax under G.S. 105-164.13B. b. Twenty-five percent (25%) of the amount of sales and use tax revenue the 1967 Session Laws other than revenue from the sale of food that is subject to local tax but is exempt from State tax under G.S. 105-164.13B. c. e amount etermined under sub-subdivision a. of this subdivision su tracte om t e amount etermine un er su -su lvision . o t is one-auarter percent (.25%) tax on the basis of point of origin instea o SECTION 31.16.4.(d) G.S. 105-523(a), as enacted by Section 31.16.3(f) of this act, reads as rewritten: "(a) Definitions. -The following definitions apply in this section: (1) Hold harmless threshold. -The amount of a county's Medicaid service costs and Medicare Part D clawbaclc payments assumed by the State under G.S.108A-54 for the fiscal year, plus five hundred thousand dollars ($500,000). (2) Repealed sales tax amount. -The sum of the following: a. Fifty percent (50%) of the amount of sales and use tax revenue distributed to a county under Article 40 of this Chapter, other than revenue from the sale of food that is subject to local tax but is exempt