Amends GS 105-228.30(b), directing the Department of Revenue to credit, from funds remitted to the Department from excise taxes on conveyances, 50% to the NC Housing Trust Fund, 37% (rather than 75%) to the Parks and Recreation Trust Fund, and 13% (rather than 25%) to the Natural Heritage Trust Fund. Applies to instruments recorded on or after July 1, 2011.
DISTRIBUTN OF EXCISE TAX ON TITLE INSTRUMENTS.
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| View NCGA Bill Details(link is external) | 2011-2012 Session |
TO BOLSTER AFFORDABLE HOUSING THROUGH EQUITABLE DISTRIBUTION OF THE EXCISE TAX.Intro. by Mansfield, Gunn, Clary.
Status: Ref To Com On Finance (Senate Action) (Mar 31 2011)
Bill History:
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Wed, 30 Mar 2011 Senate: Filed(link is external)
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Thu, 31 Mar 2011 Senate: Passed 1st Reading(link is external)
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Thu, 31 Mar 2011 Senate: Ref To Com On Finance(link is external)
S 462
Bill Summaries:
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Bill S 462 (2011-2012)Summary date: Mar 30 2011 - View Summary
View: All Summaries for Bill