(a) Upon every person engaging or continuing within the Municipality in the business
of contracting, the tax shall be equal to one and five-tenths percent (1.5%) of the gross income of the business. Provided that, on and after July 1, 2020, the respective tax rate of this section is reduced and shall be equal to one and twenty-five one-hundredths percent (1.25%) of the gross income of the business.
(b) Every person engaging in or continuing within the Municipality in the business of contracting shall furnish to the Collector, or any other person so designated by Council, the following information: a statement, accompanying each building permit issued pursuant to the Municipal Code, listing:
(1) The contractor's name and address, and the gross income to be derived by the contractor from the project for which the building permit is issued; and
(2) Each subcontractor's name and address and the gross income to be derived by each subcontractor from the project for which the building permit is issued.
(c) In addition to the requirements of subsections (a) and (b) hereof every person engaging or continuing within the Municipality in the business of contracting shall furnish to the Collector a cash bond as a condition precedent to the issuance of a building permit as elsewhere provided in the Municipal Code in an amount equal to the gross income to be derived by the contractor from the project for which the building permit is issued multiplied by one and five-tenths percent (1.5%) such bond being conditioned upon compliance with the provisions of Section 733.14. (Ord. 2019-07. Passed 12-2-19.)