AN ACT TO MAKE TECHNICAL AND CLARIFYING CHANGES TO THE INDUSTRIAL FACILITIES SALES TAX REFUND, A TECHNICAL CORRECTION TO THE MEMBERSHIP COUNT OF THE UWHARRIE COMMISSION, TO PROVIDE INTEREST ON OVERPAYMENT OF PROPERTY TAX, AND TO PROVIDE DELAY OF THE COLLECTION OF PROPERTY TAX PENDING APPEAL. Summarized in Daily Bulletin 2/15/11 and 2/23/11. Enacted March 9, 2011. Section 1 is effective July 1, 2010. Section 3 is effective for taxable years beginning on or after January 1, 2011. The remainder is effective March 9, 2011.
Bill Summaries: S76 (2011-2012 Session)
Summary date: Mar 9 2011 - View summary
Bill S 76 (2011-2012)Summary date: Feb 23 2011 - View summary
Senate committee substitute makes the following changes to 1st edition.
Amends GS 105-164.14B(a) to define owner as a term including a lessee under a capital lease (rather than under a lease-purchase contract). Also deletes the term and definition for strategic partner.
Amends GS 105-164.14B(b)(2) to allow an owner to invest funds required as a minimum investment either directly or indirectly through a related entity (previous version allowed the owner to invest funds directly or indirectly through a related entity or strategic partner, only in the case of a computer manufacturing facility).
Adds a new section to enact GS 105-360(e), entitling a taxpayer to receive interest for an overpayment of property tax when the county board of equalization and review reduces the property valuation or removes the property from the tax lists. Specifies interest rate and refund timeline. Also amends GS 105-378(d) to delay the collection of taxes or enforcement of a tax lien resulting from an assessment when the property valuation has been or is appealed to the county board of equalization and review or the Property Tax Commission. Makes these provisions effective for taxable years beginning on or after January 1, 2011.
Makes conforming changes to the title.
Bill S 76 (2011-2012)Summary date: Feb 15 2011 - View summary
Amends GS 105-164.14B(a) (pertaining to certain industrial facilities refunds) to add definitions for owner, paper-from-pulp manufacturing, and turbine manufacturing. Amends GS 105-164.14B(b)(1) to add paper-from-pulp manufacturing and turbine manufacturing to the list of businesses applicable to industrial facilities allowed a sales and use tax refund. Makes technical changes. Effective July 1, 2010, and applies to sales made on or after that date.
Amends GS 153C-3(d) to increase the membership of the Uwharrie Commission from 10 to 12.