AN ACT TO CLARIFY THE PROCESS WITH WHICH A LOCAL GOVERNMENTAL UNIT MAY IMPOSE AND COLLECT SYSTEM DEVELOPMENT FEES AND TO PROVIDE THAT A WATER OR WASTEWATER PUBLIC UTILITY IS SOLELY RESPONSIBLE FOR INCOME TAXES DUE ON TAXABLE CONTRIBUTIONS IN AID OF CONSTRUCTION.
House committee substitute to the 1st edition makes the following changes.
Further amends GS 162A-201, which sets forth the defined terms for Article 8 governing system development fees, adding to the definitions for the defined terms service and system development fee to explicitly provide that the services identified in each include services provided pursuant to a wholesale arrangement between a water and sewer authority and a local governmental unit.
Deletes the proposed changes to the language used to calculate revenue from system development fees using the buy-in method under GS 162A-211(b).
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