NC S846

Replaces individual county-specific Local Option Sales Tax (LOST) adjustment factors with a three-tier system based on county economic development designations under G.S. 143B-437.08.

Establishes adjustment factors of 1.10 for development tier one counties, 1.00 for development tier two counties, and 0.90 for development tier three counties.

Removes previous county-specific adjustment factors that ranged from 0.81 to 1.49 for individual counties like Mecklenburg, Jones, Dare, and others.

Repeals G.S. 105-524(e), eliminating the state contribution toward LOST additional sales tax distribution.

Effective July 1, 2017 for the adjustment factor changes and July 1, 2016 for the repeal provision, applying to LOST collected after July 1, 2017 and distributed after September 1, 2017.