NC H436

Creates Article 43A allowing Cabarrus County to levy a local sales and use tax at 1/4% or 1/2% rate approved by voter referendum for public education purposes.

Tax must be approved by majority vote in a county referendum with specific ballot language indicating the rate and that revenues are used only for public education.

County commissioners may levy the tax by resolution after 10 days' public notice following referendum approval.

Tax revenue can only be used for public school capital outlay purposes and to retire indebtedness incurred for those purposes, as defined in G.S. 115C-426(f).

Tax cannot be in effect in a county simultaneously with a tax levied under Article 43; exempts food and bundled transactions from the tax.