Bill Summaries: S354 (2021)

Tracking:

Bill S 354 (2021-2022)

Summary date: Mar 25 2021 - View summary

Identical to H 372, filed 3/23/21.

Changes the provisions governing funds remitted to the Department of Revenue by registers of deeds collected from taxing real property conveyance instruments under GS 105-228.30. Rather than crediting the required portion of proceeds remitted to DOR to the General Fund, requires DOR to credit remitted funds at the rate of 30% to the Parks and Recreation Trust Fund, 30% to the Land and Water Fund, 30% to the Coastal Storm Damage Mitigation Fund, and 10% to the NC Agricultural Development and Farmland Preservation Trust Fund. Makes conforming changes to the statutes governing those identified Funds: GS 143B-135.56; GS 143B-135.234; and GS 106-744 (does not amend GS 143-215.75M regarding the Coastal Storm Damage Mitigation Fund). Effective July 1, 2021.

Agriculture, Courts/Judiciary, Civil, Civil Law, Court System, Development, Land Use and Housing, Property and Housing, Environment, Environment/Natural Resources, Government, Cultural Resources and Museums, State Agencies, Department of Revenue, Tax

GS 105

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Bill Summaries: S354 (2021)

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