Bill Summary for H 1105 (2011-2012)

Summary date: 

Jun 19 2012
S.L. 2012-157

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 1105 (Public) Filed Wednesday, May 23, 2012
AMENDING THE ELECTROLYSIS PRACTICE ACT TO AUTHORIZE THE BOARD OF ELECTROLYSIS EXAMINERS TO HOLD AND USE FUNDS, TO CLARIFY CONTINUING EDUCATION REQUIREMENTS, AND TO AFFECT CERTAIN FEES.
Intro. by Justice.

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Bill summary

House committee substitute makes the following changes to 1st edition.
Deletes all provisions of previous edition and replaces them with AN ACT TO SIMPLIFY THE COLLECTION OF PROPERTY TAXES THAT ARE DUE ON PROPERTY OWNED BY CERTAIN NONPROFIT HOMEOWNERS ASSOCIATIONS.
Enacts new subsection (a1) to GS 105-277.8 (taxation of nonprofit homeowners’ association property) to provide that the value of extraterritorial common property, which is real property meeting specified conditions and owned by a nonprofit homeowners’ association, is subject to taxation in the jurisdiction in which the property is entirely contained and only in the amount of the local tax of that jurisdiction. Makes conforming changes. Effective for taxes imposed for taxable years beginning on or after July 1, 2012.

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