Senate Bill 746 Summary

• Creates Article 43A in Chapter 105 of General Statutes authorizing Cabarrus County to levy a local sales and use tax of 1/4% or 1/2% exclusively for public education, subject to voter referendum approval.

• Restricts revenue use to public school capital outlay purposes and retiring indebtedness incurred for those purposes, as defined in G.S. 115C-426(f).

• Prohibits a county from levying taxes simultaneously under both Article 43 (existing local option sales tax) and Article 43A (new education-focused tax).

• Exempts the new tax from applying to food exempt under G.S. 105-164.13B and bundled transactions under G.S. 105-467(a)(5a).

• Applies exclusively to Cabarrus County and becomes effective upon enactment.