Bill Summary for S 20 (2015-2016)

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Bill: IRC UPDATE/MOTOR FUEL CHANGES. (NEW)

Summary date: 

Mar 5 2015
S.L. 2015-2

Bill Information:

View NCGA Bill Details(link is external)2015-2016 Session
Senate Bill 20 (Public) Filed Tuesday, February 3, 2015
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 amendment #3 makes the following changes to the fourth edition:

Deletes proposed language in GS 105-153.5(d), which provides that North Carolina tax law does not conform to the extension of the federal qualified tuition and expenses deduction for tax year 2014.