Bill Summary for H 619 (2011-2012)

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Bill: FORCED COMBINATIONS (NEW).

Summary date: 

Jun 16 2011
S.L. 2011-390

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 619 (Public) Filed Tuesday, April 5, 2011
TO AMEND THE NORTH CAROLINA PHYSICAL THERAPY PRACTICE ACT BY PROVIDING FOR PROFESSIONAL ASSOCIATION BUSINESS ORGANIZATION STATUS FOR PHYSICAL THERAPISTS AND SOME ASSOCIATED PROFESSIONALS, CLARIFYING THE DEFINITION OF PHYSICAL THERAPY AIDE, AUTHORIZING THE NORTH CAROLINA BOARD OF PHYSICAL THERAPY EXAMINERS TO CONDUCT CRIMINAL BACKGROUND CHECKS OF APPLICANTS FOR LICENSURE, AND MAKING OTHER MODERNIZING STATUTORY CHANGES.
Intro. by Howard, McLawhorn, Carney, Ingle.

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Bill summary

Senate amendments make the following changes to 3rd edition.
Amendment # 1 amends proposed GS 105-130.5A(n), clarifying that the statute does not limit or negate the Secretary of Revenue’s authority to make tax adjustments as otherwise permitted by law, except that the Secretary must not make adjustments pursuant to the statute that limit a corporation’s options for reporting royalty payments.
Amendment # 2 authorizes the Revenue Laws Study Committee to review the law enacted by the act and recommend any changes needed, as detailed. Changes the act’s effective date to make the substantive sections effective January 1, 2012, and makes specified provisions apply to assessments proposed for taxable years beginning on or after that date.
Amendment # 3 amends proposed GS 105-130.5A(i)(2) to make clarifying changes to insurance companies, other than captive insurance companies, that are not included in a combined return.
Amendment # 4 amends proposed GS 105-130.5A(c), requiring a corporation to submit the combined return within 90 days (was, 60 days) of the date the Secretary provides written notice.