Joint county and municipal sales and use tax (LOST); negotiations for distribution of tax proceeds; revise provisions

Primary focus shifted from LOST tax distribution procedures to establishing a new sales tax exemption for construction materials used in school capital projects.

Added eligibility requirements for schools to claim the tax exemption, including that the school must have homestead exemptions in effect for all residents.

Created new definitions for 'capital outlay project for educational purposes,' 'local sales and use taxes,' and 'qualifying construction materials' to clarify what qualifies for the exemption.

Established a refund mechanism where schools can claim refunds of taxes paid on qualifying construction materials, with refunds allocated to capital outlay funds.

Added an automatic repeal provision stating the new exemption paragraph will expire on December 31, 2033.

Removed detailed provisions about LOST tax distribution certificates, absent municipalities, and specific criteria for distributing tax proceeds between counties and municipalities.

Changed the bill's purpose statement to reflect the new focus on educational construction material exemptions rather than LOST tax distribution negotiations.