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. . . , • ' -- <br /> . . . <br /> 0 0:1'. . <br /> . ' • _ - . . - ',.. <br /> thus reducing local sales and use taxes to one and one-half ' <br /> percent (1 1/2%) ' or 'AG /HST repeal of the additional one--half <br /> percent (1/2%) local sales and use taxes, thus reducing local <br /> sales and and use taxes to one and one-half percent .(1 1/2%) ., <br /> 1,0 105-500. . Retail collection bracket.e-The following bracket ..,. <br /> applies to collections by ' retailers in a county that' levies <br /> additional sales and use taxes under this Article: . <br /> (1) No amount on sales of less than 90: <br /> (2) to on .sales of 90 to 230: <br /> (3) 20 on sales of 240 to 480; . • <br /> (4) 30 on sales of 49$ to 670; <br /> (5) 4p on sales of 680 to 850; * . <br /> • (6) 5O on sales of 860 to $1.09; and - . . <br /> (7) Sales of over $1. 09 - straight five percent (5%) with <br /> major actions governing. <br /> '4 105-501. Distribution of additional taxes.--The Secretary . <br /> 1 . shall, on a quarterly basis, distribute the net proceeds of the <br /> . additional one-half percent (1/2%) sales and use taxes levied <br /> 1 . under this Article to the taxing counties on a per capita basis <br /> according . to the most recent annual population. estimates <br /> certified to the Secretary by the State Budget Officer. . The <br /> amount distributed to a taxing county shall then, be divided among <br /> the county and the' municipalities located in the county in * - <br /> accordance with the method by which the one percent (1%) sales . <br /> and use taxes levied in that county pursuant to Article 39 of <br /> this Chapter or Chapter 1096 of the 1967 Session. Lays are • <br /> , . distrituted. . . , <br /> If any taxes levied under this Article by a county have not .. <br /> been collected in that, county for a full quarter because - of . the '• <br /> levy or repeal of the taxes, the Secretary shall distribute a pro <br /> -it <br /> rata share to that county for that quarter based on the number of <br /> • months the taxes were collected in that county during the . <br /> • quarter. ' • <br /> . <br /> '4 105-502. Use of additional tax revenue by counties,--(a) • <br /> Except as provided by subsection (b) of this section, revenue <br /> received by a county under this Article shall ke subject to the ' <br /> following restrictions: <br /> . (1) sixty percent (60%) of the revenues received by the <br /> . . county during the first two fiscal years in mhich <br /> • • , the tax is in effect ;.- - ' <br /> (2) fifty percent (50%) of the revenues received by the <br /> • . <br /> - . county during the next two fiscal years; <br /> - , (3) forty percent (40%) of the revenues received by the <br /> . . coanty during the next four fiscal years; _ . . <br /> - (4) thirty percent (30%) of the revenues received by , <br /> the county during the next two fiscal years; and <br /> ' <br /> (5) . twenty percent (20%) of the revenues received by . <br /> the county during the next fiscal year may be used . <br /> by the county only for public, school capital, outlay <br /> purposes or to retire any indebtedness incurred by <br /> the county for these purposes during the period . ' <br /> - ' beginning five years prior to the date the taxes - <br /> took effect. . , <br /> (b) The Local Government commission eay, upon petition by a <br /> county, authorize a county to use .part or all of its tax revenue, . <br /> . . . I:. <br /> . • .e <br /> . <br /> 2 . - - Rouse Bill 1542 <br /> . • , . <br /> . . <br /> . . ' <br /> . . . . . <br /> . <br />