Bill > S131

This bill temporarily modifies how Buncombe County can use local sales and use tax revenue (specifically from Article 39) by changing the distribution and use of these funds. From July 1, 2025, to June 30, 2027, the Secretary of Revenue will distribute 100% of the net proceeds using an ad valorem method (based on property values), and Buncombe County will be required to split these funds equally: 50% will go toward school capital outlay and operating expenses, with the School Capital Fund Commission serving in an advisory capacity to recommend projects for the Buncombe County and Asheville City school systems, and 50% can be used for any public purpose. The bill also recodifies and updates the structure and operations of the School Capital Fund Commission, specifying its composition (five members appointed by local education and county boards), governance procedures, and responsibilities. The Commission will continue to manage a Public School Capital Needs Fund that can be used for new school construction, major improvement projects, or retiring school-related debt. The changes are specific only to Buncombe County and will be in effect for a two-year period.

Budget and Finance, Government Affairs

https://www.ncleg.gov/BillLookUp/2025/S131