Bill Summary for H 900 (2017-2018)
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| View NCGA Bill Details | 2017-2018 Session |
AN ACT TO MAINTAIN NORTH CAROLINA'S LOW PROPERTY TAXES BY PROVIDING MUNICIPALITIES WITH LOCALLY CONTROLLED SALES TAX OPTION TO PRODUCE REVENUE THAT CAN BE INVESTED IN INFRASTRUCTURE AND ECONOMIC DEVELOPMENT PROJECTS.Intro. by Ross, Saine.
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Bill summary
House committee substitute makes the following changes to the 1st edition.
Amends the long title.
Amends the provision directing the Department of Revenue to study existing property tax exemptions, exclusions, deferrals, and other benefits, instead directing the Revenue Laws Study Committee to study those matters. Changes the entity receiving the study report to the General Assembly (was, the Revenue Laws Study Committee).
Deletes the provision directing the Revenue Laws Study Committee to study property tax benefits currently provided to nonprofit entities.
Deletes proposed GS Chapter 105, Article 61, Parts 1 (Municipal Meals Tax Option) and 2 (Municipal Occupancy Tax). Enacts remaining Part 3 (Municipal Sales Tax Option) as new Article 70 under new Subchapter XI in GS Chapter 105. Makes conforming and technical changes. Makes a technical change to the proposed text of a ballot question under that Part.
Makes the act effective when it becomes law (was, October 1, 2017).