Senate committee substitute makes the following changers to the1st edition.
Clarifies that among the financial contributions credited to the North Carolina Education Endowment Fund (Fund), as established in this act, are funds from the sale of "I Support Teachers" special registration plates.
Amends GS 20-79.7 to provide that the "I Support Teachers" specialized registration plate costs the regular motor vehicle registration fee plus an additional $20. Directs that $10 of the $20 fee be distributed to the Special Registration Plate Account (SRPA) and that $10 be distributed to the Collegiate and Cultural Attraction Plate Account (CCAPA).
Amends GS 20-63(b1) to add the "I Support Teachers" specialized registration plate to those plates which do not have to be aFirst in Flightplate under GS 20-63(b1). Provides that for specialized plates authorized under this subsection after July 1, 2013, the Division of Motor Vehicles (DMV) may not issue a plate unless it receives an additional 200 applications for the plate, meaning a total of 500 applications will be needed before the DMV can begin issuing this license plate.
Directs the Revisor of Statutes to alphabetize, number, and renumber all the specialized registration plates listed in GS 20-79.4(b) to ensure the plates are listed in alphabetical order and numbered accordingly.
Deletes amendment to GS 105-153.5(b) and GS 105-130.9(2), which added language authorizing individual and corporate income tax deductions for amounts contributed to the Fund.
Makes additional technical and clarifying changes.
Tue, 20 May 2014 Senate: Filed
Wed, 21 May 2014 Senate: Passed 1st Reading
Wed, 18 Jun 2014 Senate: Reptd Fav Com Substitute
Wed, 18 Jun 2014 Senate: Com Substitute Adopted
Wed, 18 Jun 2014 Senate: Re-ref Com On Appropriations/Base Budget
Wed, 18 Jun 2014 Senate: Sequential Referral To Finance Added
Bill S 818 (2013-2014)Summary date: Jun 18 2014 - More information
Bill S 818 (2013-2014)Summary date: May 20 2014 - More information
Amends GS Chapter 115C, adding a new Article 32E, to establish the North Carolina Education Endowment Fund (Fund). Describes the Fund as a special fund that consists of (1) money credited to it under GS 20-81.12, as amended in this act, from the sale of special registration plates to support public school teachers; (2) proceeds from any gifts, grants, or contributions to the state that are specifically designated for inclusion in the Fund; (3) appropriations made to the Fund by the General Assembly; and (4) interest that accrues to the Fund. Provides that money in the Fund is to be made available only via an appropriation by the General Assembly. Requires that the General Assembly can only appropriate money from the Fund for teacher compensation directly related to improving student academic outcomes in the public schools of the state.
Amends GS 20-79.4(b) with a new subdivision (251) to provide that the Division of Motor Vehicles (DMV) is to issue a special registration plate with the logo, "I SUPPORT TEACHERS" written in white chalk on a gray chalkboard background and an image of a red apple with the letters "ABC" appearing in white chalk over the apple.
Amends GS 20-81.12(b12) to require that the DMV receive more than 300 applications for the I Support Teachers plate before the plate may be developed. Directs the DMV to make a quarterly transfer of the money in the Collegiate and Cultural Attraction Plate account derived from the sale of the I Support Teachers plates to the Fund established under new GS 115C-472.16.
Repeals Article 32C of GS Chapter 115C, which previously established the fund for reduction in class size of public schools.
Amends GS 105-153.5(b) to add a new subdivision (10) allowing a taxpayer, in calculating North Carolina taxable income, to make a deduction from the taxpayer's adjusted gross income the amount of a contribution during the taxable year to the Fund. Prohibits making a deduction under this subdivision for amounts deducted as an itemized charitable deduction under this section.
Amends GS 105-130.9 to make contributions by any corporation allowed under subdivision (2) of this section as a deduction applicable to the Fund created under GS 115C-472.16.
Enacts GS 105-269.7 to permit any taxpayer entitled to a refund of taxes under Article 4 of GS Chapter 105 or any taxpayer who wants to make a contribution to elect to contribute all or part of the refund or make a contribution to the Fund established under GS 115C-472.16. Directs the Secretary to provide appropriate language and space on the state income tax form in which to make the election or contribution. Effective for taxable years beginning on or after January 1, 2014.
Except as otherwise indicated, this act becomes effective July 1, 2014.