House amendment #1 makes the following changes to the 2nd edition.

Amends the effective dates for Section 34 of the act, concerning adjustments to state income taxes, providing that Section 34 will be effective for taxable years beginning on or after January 1, 2012 (previously provided that subsections 34(a) through (d) are to be effective for taxable years beginning on or after January 1, 2013, with the remainder of the section effective when it becomes law).  Deletes language regarding the procedures for applying for a refund of any excess tax paid.

House amendment #2 makes the following changes.

Adds new section to the act, Section 54, amending GS 105-164.14(b), concerning nonprofit entities that are allowed a refund for certain taxes paid, providing volunteer fire departments and volunteer emergency medical services squads that are (1) exempt from income tax under the Code and/or (2) financially accountable to a city as defined in GS 160A-1, a county, or a group of cities or counties are allowed the refunds specified under GS 105-164.14 (previously, stated that volunteer fire departments and volunteer emergency medical services squads, if exempt from paying income tax under the Code, were allowed the refunds). Effective July 1, 2013, and applies to purchases made on or after that date.