A BILL TO BE ENTITLED
AN ACT TO LIMIT THE TOTAL LOCAL GOVERNMENT SALES AND USE TAX RATE TO TWO AND ONE‑HALF PERCENT; TO GIVE COUNTIES THE FLEXIBILITY TO USE UP TO ONE‑HALF PERCENT OF THE LOCAL SALES AND USE TAX FOR PUBLIC TRANSPORTATION, FOR PUBLIC EDUCATION, FOR GENERAL PURPOSES, OR FOR A COMBINATION THEREOF; AND TO MAKE VARIOUS CHANGES TO TAX AND ECONOMIC DEVELOPMENT LAWS.
Senate amendment makes the following changes to the 3rd edition.
Amends GS 143B-437.55, enacting a new subsection (c1) that requires the Economic Investment Committee, which administers the Job Development Investment Program (Program), to report electronically on the Program on the last day of each month other than the month of April. Specifies that when the General Assembly is in session, the reports due during that time are to go to the House of Representatives Finance Committee, the Senate Finance Committee, and the Fiscal Research Division. Provides that when the legislature is not in session, the reports are to be submitted to the Revenue Laws Study Committee and the Fiscal Research Division. Specifies the information and data that the monthly reports are to contain.
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