Bill Summary for H 972 (2013-2014)

Summary date: 

Apr 17 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 972 (Public) Filed Wednesday, April 17, 2013
A BILL TO BE ENTITLED AN ACT TO ELIMINATE THE PROPERTY TAX BENEFIT FOR QUALIFIED RETIREMENT FACILITIES.
Intro. by Ramsey.

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Bill summary

Repeals GS 105-278.6A which provided a property tax benefit for qualified retirement facilities. Makes a conforming change to GS 105-164.14(b) to remove qualified retirement facilities from the list ofthose nonprofit entities that are allowed a refund under this subsection. Amends subdivision (4) of GS 105-164.14(b) to provide that a retirement facility licensed under Article 64 of GS Chapter 58 and designed for elderly residents is allowed a refund under subsection (b) if the retirement facility meets all of the specified listedconditions. Effective for taxes imposed for taxable years beginning on or after July 1, 2013.

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