Agenda - 07-23-1986 - Laserfiche WebLink

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. , _______. „ ---■■■■■11 . . . . . . . . . . . .... . • . . . . . - e . • . 004i otherwise required by subsection (a) to be used for public school capital -. outlay purposes, for any lawful purpose. Ihe . petition shall be in the form prescribed by the Local Government I . _ CoMmission and shall demonstrate that the county can provide for , * its public school capital needs without restricting the use of - part or all of the designated amount of the additional one-half es . percent (1,2%) sales and use tax revenue for these imposes. . In making, its decision, the Local Government ComaissionMay consider information from sources other than the petition. The • ee • Commission shall issue a written decisicn on each petition stating the findings of the . Commission concerning the public school capital needs of the petitioning county and the percentage 1 ess 0 . of .revenue otherwise restricted by subsection (a) that may be I i •.. used by the petitioning county for any lairful purpose. . • . Decisions of the commission allouing counties •to use' a . .110 . , percentage of their tax revenue that . would otherwise be • •. • restricted under subsection (a) for any lawful Purpose are final and shall continue in effect until .the restrictions imposed by those subsections expire. . A county whose petition is denied, in . • . whole or. in part, by the Commission may subsequently submit a new . , • petition to the Commission. . se • (c) A county may expend part or al/ of 'the revenue restricted • .. for public scho41. capital meads pursuant to. subsection (a) in the • fiscal year in which the revenue is received, or the .county may ee • place part or all of this revenue in a capital reserve fand and ' shall specifically identify this revenue in accordance with - Chapter . 159 of the General Statutes. - . . . . • • (d)' For purposes of this section iii determining the number of . . . fiscal years in which one-half percent (1/2%) sales and use taxes levied under this Article have been in effect in a ceunty, these • . taxes are considered to be in effect only from the effective date • of the levy of these taxes and are considered be 'in effect for • . 'a full fiscal year during the first year in which ' these taxes es. were in effect, regardless of the number of months 'in that year in which the taxes were actually in effeet. • ios 105-503. . Report on county spending og eeblic school capital fte eutley.-- (a) It is the purpose of this article for counties to • appropriate funds generated under this 'Article toincxease the • level of county spending for public elementary and secondary . • school capital . outlay (including retirement of indebtedness incurred by the county for this eurpose) above and beyond the . " - level of spending prior to the levy of the additional tag y...0 . • authorized under this Article. • ' ' (b) On or before February 15 of each year the local Government • . Commission shall furnish to the General Assembly a report of the 4... level of each countyos appropriations for public school capital ,.. , . - outlay (including retirement of indebtedness incurred and monies . reserved for this purpose). _ The report shall include the amount •ee • each county has provided for public school capital outlay for a . • , period including at a minimum the most recent five fiscal years, . • estimates of public -school facility heedsg the . proportion of es • revenue from taxes collected under Article 40 of this Chapter • • that has been provided for public school capital outlay purposes (including retirement of indebtedness incurred and monies • . • es . (( ' reserved for these purposes) , the proportioa:of revenue collected . *. ' . ' . • • . . House Bill 1542 . . 3 . 4.... . 5 . . . - . . . . . . . • . . . . . es_ e•._,_- ",+,..■.....-.... , • . . ,