To grant additional sales and use tax authority to counties. The bill defines the new tax authority rates based on the population density of a county. Moneys collected under this section shall only be used to finance the construction of, or improvements to, facilities intended to further economic development in the county.   Official Text and Analysis.

To increase the tax rate of 0.15 percent for financing public facilities serving economic development purposes only in those rural counties with poverty rates 25 percent higher and median household income 25 percent lower than the state's. Public facilities may not be funded for a retail shopping development or expansion; a tourist or sports facility; or a gambling facility. Public facilities may not be funded for projects that will cause sprawl. Economic development purposes means those purposes which facilitate the creation or retention of businesses and the creation or retention of jobs with health benefits and with hourly wages that exceed the countywide median hourly wage.

To remove the thresholds for eligibility of counties for the increased credit amount. The criteria for how the funds from the sales and use tax credit were also removed. The rural county sales and use tax credit was increased from 0.08 percent to 0.1 percent for all counties that currently qualify for the credit.

To uthorize a tax rate increase of 0.01 percent as opposed to 0.02 percent.