SUMMARY:  LC 18 9153ERS

Revises the code section related to a special sales or use tax for educational purposes.

REQUIREMENTS:  Provides for the creation of education special districts with the authority to call a referendum for a 1% sales to be used for education purposes.

POINTS TO CONSIDER:

• Education special districts are created 
  • Boundaries shall be coterminous with the boundary of the county and shall include independent school districts if the city and county boards adopt a concurrent resolution of approval
• Upon approval in a referendum, a 1% special sales and use tax may be imposed for educational purposes for a five-year period
  • Funds may be utilized for capital outlay projects, maintenance and operations, general obligation debt, and/or roll back of millage rates
    • Maximum proceeds for capital outlay projects may not exceed maximum cost of such projects
• Local and/or state special charter schools may be included as capital outlay projects
• Requires separate accounting for funds generated by this tax and a report must be published annually showing the expenditures to date
• Requires approval by voters of a Constitutional amendment allowing for creation of such a tax
  • If a referendum fails, the question may not be submitted again to voters for 12 months

EFFECTIVE DATE: January 1, 2011, if a Constitutional amendment allowing such a tax is approved by the voters in November, 2010.