GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

H	1 

HOUSE BILL 1101*

Short Title:  Amend Local Sales Taxes.	(Public)

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Sponsors: Representatives Daughtry, Arnold, Shubert; Sexton, Rayfield, and Hill.

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Referred to:  Education, if favorable, Finance.

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May 14, 1996

A BILL TO BE ENTITLED
AN ACT TO IMPLEMENT THE RECOMMENDATION OF THE SCHOOL CAPITAL CONSTRUCTION STUDY COMMISSION TO MAKE PERMANENT THE REQUIREMENT THAT COUNTIES USE PART OF THE TWO HALF-CENT LOCAL SALES TAX PROCEEDS ONLY FOR PUBLIC SCHOOL BUILDINGS.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-487(a) reads as rewritten:
"(a)	Except as provided in subsection (c) of this section, thirty percent (30%) of the revenue received by a county from additional one-half percent (1/2%) sales and use taxes levied under this Article may be used by the county only for public school capital outlay purposes as defined in G.S. 115C-426(f) or to retire any indebtedness incurred by the county for these purposes."
Sec. 2.  G.S. 105-502(a) reads as rewritten:
"(a)	Sixty percent (60%) of the revenue received by a county under this Article may be used by the county only for public school capital outlay purposes as defined in G.S. 115C-426(f) or to retire any indebtedness incurred by the county for these purposes during the period beginning five years prior to the date the taxes took effect."
Sec. 3.  This act becomes effective July 1, 1996.