Bill Summary for H 542 (2019-2020)

Summary date: 

Apr 2 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
House Bill 542 (Public) Filed Tuesday, April 2, 2019
AN ACT TO INCLUDE CERTAIN SOLAR ENERGY PROPERTY AS NONSYSTEM PROPERTY.
Intro. by Dixon, Bell.

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Bill summary

Amends GS 105-333(12) to establish that real and personal property used directly and exclusively for the conversion of solar energy to electricity are to be treated as nonsystem property as that term is used in Article 23 of GS Chapter 105 (Public Service Companies). Applies to taxes inposed for taxable year beginning on or after the July 1, 2019, effective date.

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