1. A tax is hereby imposed on all retailers within a county in which:
(a) The board of county commissioners of the county has not imposed the maximum rate of tax that it is authorized to impose pursuant to NRS 377B.100;
(b) The board of trustees of a county school district has applied for a grant from the Fund to Assist School Districts in Financing Capital Improvements pursuant to NRS 387.3335; and
(c) The State Board of Examiners has approved the application by the board of trustees.
2. The rate of the tax imposed by subsection 1 is the difference between:
(a) The rate of tax that the board of county commissioners of the county has imposed pursuant to NRS 377B.100; and
(b) The maximum rate of tax that the board of county commissioners of the county is authorized to impose pursuant to NRS 377B.100,
but in no event may the rate imposed by subsection 1 exceed one-eighth of 1 percent of the gross receipts of any retailer from the sale of all tangible personal property sold at retail, or stored, used or otherwise consumed, in the county.
(Added to NRS by 1999, 3221)