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is hereby levied, and there shall be collected and paid, an <br />additional sales tax of one -eighth of one percent 0.1( 25%) of <br />the purchase price of tangible personal property at retail or the <br />furnishing of services, as authorized at the November 7, 2017 <br />election-._, and <br />3. For the ten-year period beginning on January 1, 2024, there <br />is hereby levied, and there shall be collected and paid, an <br />additional sales tax of one -eighths of one percent (0.125%) of <br />the purchase price of tangible personal property at retail or the <br />furnishing of services, as authorized at the November 7, 2023 <br />election. <br />B. Section 3.20.300 of the Louisville Municipal Code, regarding the use <br />tax levy, is hereby amended to read as follows (words added are underlined; words <br />deleted are stricken through): <br />Sec. 3.20.300. Levy of tax; rate. <br />There is hereby levied, and there shall be collected and paid, a tax <br />upon the privilege of using, storing, distributing, or otherwise consuming in <br />the City any article of tangible personal property or services purchased, <br />leased or rented from sources outside the City, on which a sales tax has not <br />been paid and as specified in Section 3.20.305, and upon rental of storage <br />space within the City "use tax"). The amount of the use tax shall be 3.65 <br />percent of the purchase price thereof, except that for the ten-year period <br />beginning January 1 2024 there is hereby levied, and there shall be <br />collected and paid an additional use tax of one -eighths of one percent <br />(0 125%) collected and paid as set forth in this Section, as authorized at the <br />November 7, 2023 election. <br />C. Subsection D of Section 3.20.600 of the Louisville Municipal Code is <br />hereby amended to read as follows (words added are underlined; words deleted <br />are StFi ken through): <br />Sec. 3.20.600. Sales tax —Capital improvement fund. <br />D. Revenues from the temporary % 0.375 percent sales tax <br />imposed for the ten-year period beginning on January 1, 2024 2014 shall <br />be used exclusively for the following purposes: <br />1. one-half of such revenues shall be used for acquisition <br />of land in and around the city for open space buffer <br />zones, trails, wildlife habitats, wetlands preservation <br />and f„twe narks; and for the development, <br />Ordinance No. 1856, Series 2023 <br />Page 4 of 8 <br />