Bill Summary for H 351 (2015-2016)
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Bill: CLARIFY UTILITY RATES.
Summary date:
Apr 1 2015
Bill Information:
View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO CLARIFY TAX CHANGES ENACTED IN S.L. 2013-316 MUST BE REFLECTED IN UTILITY RATES.Intro. by Arp, Collins, Warren.
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Bill summary
House committee substitute makes the following changes to the 1st edition. Amends Section 1(c) of the bill to add that utility refunds resulting from the reduction of the corporate income tax that are subject to interest do not include any amounts to be refunded arising from excess deferred income taxes due to the reduction in the corporate income tax rate effective for taxable years beginning on or after January 1, 2014. Makes clarifying changes.