Bill Summary for S 763 (2013-2014)

Summary date: 

Aug 1 2014

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 763 (Public) Filed Wednesday, May 14, 2014
A BILL TO BE ENTITLED AN ACT TO MAKE TECHNICAL AND CLARIFYING CHANGES TO VARIOUS REVENUE LAWS; TO MODIFY THE RENEWABLE ENERGY TAX CREDIT; AND TO MODIFY AND EXTEND THE HISTORIC REHABILITATION TAX CREDIT.
Intro. by Rabon, Rucho.

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Bill summary

House amendments to the 5th edition, as amended, make the following changes.

Amendment #3 amends GS 143B-437.012, concerning eligibility for a grant from The Job Maintenance and Capital Development Fund, adding new conditions for eligibility. New conditions include that the business be a major employer, with the project for which funds are requested having to be located in a development tier one area at the time the business applies for the grant. Also new, a business can be eligible for a grant if it is a large manufacturing employer that is converting its manufacturing process to change the product it manufactures or is investing in its process by enhancing pollution controls or transitioning the manufacturing process from using coal to using natural gas for the purpose of becoming more energy efficient or reducing emissions, as well as being certified by the Department of Commerce that it has invested or plans to invest at least $50 million of private funds (was, $65 million) in improvements to real property and additions to tangible personal property within a five-year period (was, three-year).  Deletes a requirement that the large manufacturing business must be located in a tier one development area in order to be eligible for a grant.  However, sets out that to be eligible, certain employment levels must be met and maintained depending on the category of the development area the business is located in.  The business can be located in either a tier one or tier two development area, with different employment requirements depending on the tier. Tier one location would roughly require that 320 full-time employees be employed by the project subject to the grant with tier two location requiring 800 full-time employees if the tier two area has a population of less than 60,000 as of July 1, 2013.

Establishes that the Department of Commerce cannot enter into more than five agreements/grants, with total aggregate cost not to exceed $79 million (was, $69 million).

Effective July 1, 2014.

Amendment #5 repeals GS 143B-131.7, which required the Attorney General to assign legal counsel to the Roanoke Island Commission.

Amendment #6 amends GS 74F-16 to provide that GS Chapter 74F (Locksmith Licensing Act) does not apply to a merchant, or retail or hardware store if it: (1) is lawfully duplicating keys or installing, servicing, repairing, rebuilding, reprogramming, rekeying, or maintaining locks in the normal course of its business; (2) maintains a physical location in the state; (3) maintains a sales and use tax permit; and (4) does not represent itself as a locksmith.

Provides that if Senate Bill 734 (Regulatory Reform Act of 2014) becomes law, Section 2.5 (excluding from the Locksmith Licensing Act a merchant, or retail or hardware store, when the merchant or store does not purport to be a locksmith and lawfully (1) rekeys a lock at the time of sale of the lock; (2) duplicates a key, including a transponder type key that requires programming; or (3) installs a lock on a door if both the door and lock were purchased from the same merchant) is repealed.

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