NC S256

Authorizes the Town of Cornelius to levy a local sales and use tax of up to one-half percent (0.5%) following approval by voter referendum.

Tax rate must be imposed in increments of one-quarter percent (0.25%) and expires seven years from the date the tax is levied.

Revenue from the tax may be used only for road construction and improvement purposes.

Secretary of State shall distribute tax proceeds to the municipality on a monthly basis, excluding food exempt from sales tax and certain bundled transactions.

Requires the county board of elections to conduct an advisory referendum, with municipalities obtaining 10 days' public notice before implementing or modifying the tax rate.