Bill > SB105

This bill allows counties to impose a special county education gross receipts tax, which is an excise tax of three-fourths of one percent on businesses operating within the county, to fund public school capital improvements. This tax revenue can only be used to pay off bonds issued for these improvements, and the tax can be imposed for a period of up to twenty years. The process begins when the boards of participating school districts, including locally and state-chartered charter schools, agree on a need and submit a resolution to the county governing body. The county must then enact an ordinance to impose the tax, but it will only go into effect if a majority of voters in the county approve it in an election. The revenue from these bonds will be distributed to the participating schools based on their student enrollment, and individual schools can choose not to participate. The bill also defines "capital improvements" to include building, remodeling, equipping, and improving school grounds, and specifies that "county" refers to a Class B county with a population under 45,000 and a high net taxable property value.