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ND SB2137
Bill
Status
1/10/2013
Primary Sponsor
Stanley Lyson
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AI Summary
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Amends section 40-05.1-06.1 to allow city sales tax revenue transfers to school districts for bonded indebtedness approved by city electors after June 30, 2013, and before July 1, 2017.
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Creates section 40-05.1-06.2 authorizing cities to impose an additional city sales, use, farm machinery gross receipts, and alcoholic beverage gross receipts tax at up to one percent upon school board resolution and city voter approval by 60 percent or more.
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Requires tax proceeds to be deposited in a special city fund and transferred to the school district for principal and interest payments on school building bonds.
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Allows unused funds at fiscal year-end to be transferred to the city general fund, and makes any funding shortfalls the responsibility of the school district rather than the city.
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Becomes effective July 1, 2013, with section 2 expiring June 30, 2017.
Legislative Description
Authorization of city sales tax imposition for payment of school district bonds for school building construction; to provide an effective date; and to provide an expiration date.
Last Action
Second reading, failed to pass, yeas 19 nays 27
1/28/2013