Bill Summary for H 533 (2015-2016)

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Bill: MODIFY PUV EXCEPTIONS TO DISQUALIFICATION.

Summary date: 

Jul 7 2016
S.L. 2016-76

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 533 (Public) Filed Wednesday, April 1, 2015
AN ACT TO MODIFY WHEN THE LIEN FOR DEFERRED TAXES ON LAND ELIGIBLE FOR PRESENT‑USE VALUE CLASSIFICATION IS EXTINGUISHED IN ORDER TO PROMOTE SALES FOR LAND CONSERVATION USES AND TO ALLOW A TAXPAYER TO CONTEST A DENIAL OF A CLAIM FOR REFUND WHICH THE DEPARTMENT OF REVENUE DETERMINES TO BE OUTSIDE THE STATUTE OF LIMITATIONS.
Intro. by McGrady, Setzer, Jordan, Harrison.

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Bill summary

AN ACT TO MODIFY WHEN THE LIEN FOR DEFERRED TAXES ON LAND ELIGIBLE FOR PRESENT‑USE VALUE CLASSIFICATION IS EXTINGUISHED IN ORDER TO PROMOTE SALES FOR LAND CONSERVATION USES AND TO ALLOW A TAXPAYER TO CONTEST A DENIAL OF A CLAIM FOR REFUND WHICH THE DEPARTMENT OF REVENUE DETERMINES TO BE OUTSIDE THE STATUTE OF LIMITATIONS. Enacted June 30, 2016. Section 1 is effective for taxes imposed for taxable years beginning on or after July 1, 2016. The remainder is effective June 30, 2016.