Bill Summary for H 1224 (2013-2014)
Jul 24 2014
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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.Intro. by Presnell.
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Senate amendment #4 makes the following changes to the 3rd edition, as amended.
Further amends GS 143B-437.52(a), effective July 1, 2015, to delete the provision in the grant agreement conditions that allowed the Economic Investment Committee to disregard the Job Catalyst Fund award in determining whether a grant is appropriate for the project if the total costs of the project to the State outweigh the benefits as a result of an award from the Job Catalyst Fund.
Makes a clarifying change to the required wage standard for grants from the Job Catalyst Fund in GS 143B-437.67(a)(5).
Makes technical changes.