Bill Summary for S 681 (2019-2020)

Summary date: 

Jul 31 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 681 (Public) Filed Thursday, June 20, 2019
AN ACT TO ESTABLISH THE RURAL HEALTH CARE STABILIZATION PROGRAM; TO GIVE COUNTIES ADDITIONAL FLEXIBILITY WITH REGARD TO THE LOCAL OPTION SALES AND USE TAX WITHOUT INCREASING THE EXISTING MAXIMUM TAX RATE; AND TO EXPAND ELIGIBILITY FOR UTILITY ACCOUNT FUNDS.
Intro. by Berger, Tillman.

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Bill summary

House committee substitute to the 3rd edition makes the following changes.

Part I.

Amends new Article 2, Rural Health Care Stabilization Program, to GS Chapter 131A, changing the maturity for loans awarded under the Program to not exceed 20 years (was, not to exceed ten years, with a one-time option to extend the loan for another ten years).

Part II.

Restricts the levy of the additional 0.25% sales and use tax allowed under the provisions of Part II until on or after October 1, 2020, if the levy results in a 2.5% county sales and use tax rate.

 

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