HB357 Summary

• Authorizes Randolph County Commission to levy additional sales and use taxes up to one percent on retail sales, amusement/entertainment activities, and consumer purchases for construction, maintenance, and operation of licensed hospital facilities.

• Requires an advisory countywide referendum on whether voters support the additional taxes; if a majority opposes the taxes, the act becomes null and void.

• Tax proceeds must be deposited in a separate county fund and used solely for hospital facility purposes; county may issue bonds pledged against tax revenues with maximum 30-year terms.

• Taxes terminate automatically upon full payment of all bonds and securities issued to construct and open the hospital facility, and cannot be abated or used for other county purposes.

• Applies provisions of state sales and use tax statutes to administration and collection; county may retain up to five percent of collected proceeds as a collection fee or pay State Department of Revenue not to exceed actual collection costs.