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Carrboro. The funds will be maintained by each local government <br /> in capital reserve improvement funds until spent for the capital <br /> improvements specified in the Bill. <br /> D. The excise tax will be levied on each square foot <br /> of dwelling space and each square foot of commercial building <br /> enclosed floor space. The tax will be collected at the time an <br /> occupancy permit is issued. The Bill provides for collection of <br /> the tax by civil action if necessary. <br /> E. The tax rate will be established annually by <br /> Orange County after consultation with the municipalities within <br /> Orange County. The rate will be uniform county-wide but may vary <br /> for different types of construction. <br /> F. The Bill provides for a , disclosure statement in- <br /> tended to provide notice to the property owner of the existence <br /> of the tax and notice that the owner is responsible for its <br /> payment. <br /> G. The Bill applies only to Orange County, excluding <br /> Hillsborough. It is intended to replace impact fee authorization <br /> previously given to Orange County, Chapel Hill and Carrboro. As <br /> such, once impact taxes are in place, the Bill does not permit <br /> the County, Chapel Hill or Carrboro to implement their impact fee <br /> authorization. <br /> 3 <br /> - _z <br />