SB 762: Transactions and use taxes: various jurisdictions.

The bill authorizes a city to impose a transactions and use tax for general or specific purposes. The tax rate cannot exceed 1% of the transactions and use tax in the jurisdiction, and it will not be considered when calculating the combined rate limit of 2%. The city must meet certain requirements before imposing the tax. The bill also includes legislative findings and declarations that a special statute is necessary for the city.