HB573 Summary

• Authorizes Jefferson County Commission to levy a sales tax and use tax at rates not exceeding one percent on retail sales and consumption of tangible personal property.

• Requires simultaneous cancellation of existing county sales and use taxes under Ordinance 1769 if new taxes are levied and existing school warrants are retired or defeased.

• Establishes priority distribution of tax proceeds: first to refunding school warrant debt service, second to county general fund (up to $36.3 million per fiscal year), third to 2015 Sales Tax Fund for schools (up to $18 million per fiscal year), and fourth to Community Service Fund (up to $3.6 million per fiscal year).

• Creates Jefferson County Community Service Committee with four members elected by legislative delegations; allocates Community Service Fund equally between House and Senate delegations for public purposes including schools, roads, parks, libraries, performing arts, and assistance programs.

• Taxes automatically terminate when all refunding school warrants are fully paid; applies state sales and use tax statutes and administration procedures to county taxes except for tax rate.