Allows Guilford County municipalities that do not levy ad valorem taxes to receive sales tax distributions.

This bill modifies Guilford County's sales tax distribution to allow qualifying municipalities to receive net proceeds. A qualifying municipality must be in Guilford County, not levy ad valorem taxes, and not receive distributions under G.S. 105-472(b)(2). The Guilford County Board of Commissioners must choose the ad valorem distribution method for the qualifying municipality to receive distributions. The municipality must adopt a resolution to receive net proceeds, which is 25% of its per capita distribution.

Allows Guilford County municipalities that do not levy ad valorem taxes to receive sales tax distributions.

This bill modifies Guilford County's sales tax distribution to allow qualifying municipalities to receive net proceeds. A qualifying municipality must be in Guilford County, not levy ad valorem taxes, and not receive distributions under G.S. 105-472(b)(2). The Guilford County Board of Commissioners must choose the ad valorem distribution method for the qualifying municipality to receive distributions. The municipality must adopt a resolution to receive net proceeds, which is 25% of its per capita distribution.