Bill Summary for S 20 (2015-2016)
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| View NCGA Bill Details | 2015-2016 Session |
AN ACT TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE, TO DECOUPLE FROM CERTAIN PROVISIONS OF THE FEDERAL TAX INCREASE PREVENTION ACT OF 2014, TO MODIFY THE MOTOR FUELS TAX RATE, AND TO MAKE CERTAIN REDUCTIONS WITHIN THE DEPARTMENT OF TRANSPORTATION FOR THE 2014-2015 FISCAL YEAR.Intro. by Rabon, Rucho, Tillman.
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Bill summary
House committee substitute makes the following changes to the 3rd edition:
Amends GS 105-153.5, Modifications to adjusted gross income, deleting language that required taxpayers to add any amount paid toward qualified principal residence debt to the taxpayer's adjusted gross income.
Provides that effective April 1, 2015, the motor fuel excise tax rate will be 36 cents a gallon (was, 35 cents).
Amends GS 105-449.80(a), deleting some of the previous changes made to the subsection, now providing that the variable wholesale component of the fuel excise tax rate is the greater of 3 1/2 cents a gallon or 7 percent of the average wholesale price of motor fuel for the applicable base period (previously, was the greater of 17 1/2 cents a gallon or 9.9 percent of the average wholesale price of motor fuel for the applicable base period). Deletes changes made to the notification requirement for the Secretary to notify affected taxpayers. Effective January 1, 2016 (was, March 1, 2015)
Makes various adjustments to the funding for and appropriations from the State Highway Trust Fund for the fiscal year ending June 30, 2015, including reductions to specified fund codes within the Highway Fund.
Reduces the reductions required to be made by the Director of the Budget and Secretary of Revenue, including adjusting the reduction of funds appropriated pursuant to GS 136-41.1 to $1,045,200 (previously appropriation was to be reduced by $2,575,560), and adjusting reductions to the Wildlife Resources Fund and the Shallow Draft Navigation Channel and Lake Dredging Fund to $16,750 (previously appropriation was to be reduced by $41,275).
Deletes provisions from the previous edition that required the Secretary of the Department of Transportation to reduce its workforce by eliminating 500 filled, full-time positions by March 1, 2015. Makes conforming changes.
Requires the Secretary of the Department of Transportation to eliminate 40 vacant positions (was, 50 vacant positions).
Changes the effective date for sections of the bill that previously had an effective date of March 1, 2015, to becoming effective when the bill becomes law.