AN ACT TO ENACT THE NORTH CAROLINA PROVIDING ACCESS TO CAPITAL FOR ENTREPRENEURS AND SMALL BUSINESS ACT, TO PROVIDE PUBLIC DISCLOSURE OF WRITTEN DETERMINATIONS MADE BY THE DEPARTMENT OF REVENUE, AND TO PROHIBIT CITIES FROM CHARGING FEES FOR UTILITY USE OF RIGHT‑OF‑WAY. Enacted July 22, 2016. Effective July 22, 2016, except as otherwise provided.
Summary date: Jul 28 2016 - View summary
House amendment makes the following changes to the 4th edition.
Amends the proposed provisions to subdivision (6) of GS 160A-296(a), which prohibits the assessment of a fee or charge for activities conducted in the right-of-way on businesses listed in GS 160A-206(b) (businesses supplying utilities), to except from the prohibition (1) fees to recover any difference between a city's right-of-way management expenses related to the activities of businesses listed in GS 160A-206(b) and distributions under Article 5 of GS Chapter 105 and (2) payments under agreements subject to GS 62-350, concerning regulation of pole attachments for public utilities (previously, only excepted fees to the extent a city's right-of-way management expenses related to the activities of those businesses exceed distributions under Article 5 of GS Chapter 105).
Deletes the provisions of Section 9(c) and instead provides in 9(c) that a city cannot impose a fee or charge on businesses listed in GS 160A-206(b) for activities conducted in the city's right-of-way, except fees or charges not exceeding those in effect as of June 1, 2016, or payments under agreements subject to GS 62-350. Provides that Section 9(c) is repealed effective July 1, 2017.
Amends Section 10 to provide that, except as otherwise provided, the act is effective when it becomes law (previously, the act is effective when it becomes law).
House committee substitute makes the following changes to the 3rd edition.
Changes the long and short titles.
Current GS 160A-293(a) grants a city the general authority and control over all public streets, sidewalks, alleys, bridges, and other ways of public passage within its corporate limits, except to the extent that authority and control is vested in the Board of Transportation. Current law delineates eight powers and duties that the general authority granted to a city includes, but is not limited to. The sixth power included in a city's general authority and control granted in subsection (c) is the power to regulate, license, and prohibit digging in the streets, sidewalks, or alleys, or placing therein or thereon any pipes, poles, wires, fixtures, or appliances on, above, or below the surface. Current law further provides that, to the extent a municipality is authorized to impose a fee or charge with respect to activities conducted on rights-of-way, the fee or charge must apply uniformly and on a competitively neutral and nondiscriminatory basis to all comparable activities by similarly situated users of the rights-of-way. This act adds a provision to prohibit the assessment of a fee or charge for activities conducted in the right-of-way on businesses listed in GS 160A-206(b) (businesses supplying utilities), except to the extent a city's right-of-way management expenses related to the activities of the businesses exceed distributions under Article 5 of GS Chapter 105 (sales and use tax). Effective July 1, 2017.
Provides that, from the effective date of the act until July 1, 2017, no city can impose any new or increased fees or charges on the businesses listed in GS 160A-206(b) for activities conducted in the right-of-way and, subject to other applicable legal requirements, the fees or charges cannot exceed those in effect as of June 1, 2016.
Summary date: Jun 20 2016 - View summary
Senate amendment makes the following changes to the 2nd edition.
Deletes the appropriations of $10,000 from the General Fund to the Department of Revenue for the 2016-17 fiscal year to provide for the publishing of past written determinations on the Department of Revenue's website as specified.
Makes conforming changes.
Summary date: Jun 15 2016 - View summary
Senate committee substitute makes the following changes to the 1st edition.
Amends the act's short and long titles.
Deletes whereas clauses found in the previous edition.
Makes organizational changes, dividing the bill into three parts and adding part titles.
Makes technical and clarifying changes throughout newly enacted GS 78A-17.1 and makes organizational changes to the provisions concerning rule adoption.
Enacts new GS 105-264.2, concerning written determinations made by the Department of Revenue (DOR) which are applicable only to an individual taxpayer as applied to a specific set of existing facts. These written determinations have no precedential value except to the taxpayer to whom it was issued. This new statute requires the text of these written determinations to be published on the DOR website within 90 days of the date it was issued to the taxpayer. Sets out information that must be redacted prior to publishing the determination to the website, including personal identifying information of the taxpayer and trade secrets or other privileged or confidential commercial information. Provides that the Secretary has no liability for the failure to make redactions except in specified circumstances, such as failing to make the redactions in intentional and willful disregard of these provisions. Sets out and defines terms for use in this statute: alternative apportionment ruling, background file document, private letter ruling, redetermination private letter ruling, and written determination.
Amends GS 105-264(d) to provide that the Secretary of DOR can charge a fee for providing written determinations (previously, language stated fee was allowed for providing specific written advice). Makes conforming changes and clarifies that "written determination" has the same meaning as found in GS 105-264.2.
Amends GS 105-259(b)(27) to allow the disclosure of tax information in order to provide a publication or written determination (without this authorization the publication of written determinations would be prohibited).
Requires the DOR to publish on its website all written determinations issued on or after January 1, 2010, and before the enactment of this act, within 120 days of the enactment of this act. Provides that the redaction requirements provided in GS 105-264.2 also apply to the publication of these written determinations. Appropriates $10,000 from the General Fund to the Department of Revenue for the 2016-17 fiscal year to provide for the implementation of this requirement.
Summary date: Mar 26 2015 - View summary
Enacts new GS 78A-17.1 to create the "Invest NC exemption." Provides that except as otherwise provided in GS Chapter 78A, an offer or a sale of security by an issuer is exempt from the provisions of GS 78A-24 (registration requirements for securities) and GS 78A-49(d) (rules, forms, orders and hearings, governing registration requirements for securities) if it is conducted according to the specified requirements.
Adds a new subdivision (20) to GS 78A-17 to provide that any offer or sale of a security by an issuer, conducted in accordance with GS 78A-17.1, is exempt from the provisions of GS 78A-24 and GS 78A-49(d).
Specifies the 13 criteria to be met to make an offer or sale of a security by an issuer qualify for the exemption under new GS 78A-17.1. Includes setting a cap on the cash and other consideration received for all sales of securities under GS 78A-17.1. Delineates rules and procedures governing an offer of sale of a security made through an Internet web site. Sets out indexing, reporting, and fee requirements. Sets out when the exemption does not apply.
Makes conforming changes to GS 78A-49(d).
Directs the Secretary of State to adopt rules to implement the provisions of this act within 12 months of the effective date of this act. Specifies the procedure to which the Secretary is to adhere in adopting those rules. Provides that an adopted rule under this section becomes effective on the first day of the month following the month that the Secretary adopts and submits the rule to the Codifier of Rules to enter into the North Carolina Administrative Code. Effective when this act becomes law and expires 12 months after that date.
Provides that any rule adopted more than 12 months after the effective date of this act shall comply with the requirements of Article 2A of GS Chapter 150B. Becomes effective 12 months after the effective date of this act.
The remainder of this act is effective when the act becomes law.