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WHEREAS, the taking of an asset statutorily vested in the local governments of <br />North Carolina and redistributing it on the basis of a currently perceived <br />"fairness" will be financially devastating to Cabarrus County and its towns, as <br />well as a majority of counties and municipalities in the State, forcing them to make <br />up the difference by increasing ad valorem taxes. Gifting the sales tax revenues <br />on a per capita distribution is tantamount to a tax increase mandated by the <br />Legislature; and <br />WHEREAS, this legislation not only proposes to strip local governments of a <br />statutorily vested funding source and mandate it to recover those revenues <br />elsewhere, it proposes to further effectively increase County set aside <br />requirements for public school capital outlays; and <br />WHEREAS, despite the text of SB 369 stating the Governor may not reduce or <br />withhold the distribution to local government, the legislation will convert the local <br />sales tax to a state sales tax funneling it into the State's General Fund, which <br />threatens future distributions to local governments just as has occurred with <br />lottery proceeds, as well as the beer and wine taxes; and <br />WHEREAS, ultimately this conversion of the local sales tax to a state sales tax <br />under the guise of "fairness" is in fact unfair and a fundamental change in the way <br />government is financed in North Carolina. <br />NOW THEREFORE BE IT RESOLVED by the Cabarrus County Board of <br />Commissioners: <br />1. That the passing of SB 369 threatens to take over $6 million in sales tax <br />revenue from Cabarrus County annually; and <br />2. That the proposed legislation is far from fair, but rather it burdens the <br />citizens of Cabarrus County and its municipalities; and <br />3. That the Cabarrus County Board of Commissioners adamantly opposes SB <br />369 and any similar legislation that threatens the status and distribution of <br />local sales and use taxes; and <br />4. It is hereby requested that the local delegation of the North Carolina <br />General Assembly elected to represent the interests of the citizens of <br />Cabarrus County and its municipalities vigorously oppose SB 369 and any <br />similar bill filed in the House. <br />5. The Commissioners shall seek the support of the municipalities of Concord, <br />Harrisburg, Kannapolis, Locust, Midland, Mount Pleasant and numerous <br />G -3 Page 151 <br />