AN ACT TO SIMPLIFY THE COLLECTION OF PROPERTY TAXES THAT ARE DUE ON PROPERTY OWNED BY CERTAIN NONPROFIT HOMEOWNERS ASSOCIATIONS. Summarized in Daily Bulletin 6/19/12, 6/20/12, and 6/21/12. Enacted July 12, 2012. Section 1 is effective for taxes imposed for taxable years beginning on or after July 1, 2012. The remainder is effective July 1, 2012.
Bill Summaries: H 1105 MODIFY TAXATION OF HOA PROPERTY (NEW).
Printer-friendly: Click to view
Tracking:
-
Summary date: Jul 17 2012 - View Summary
-
Bill H 1105 (2011-2012)Summary date: Jun 21 2012 - View Summary
House amendment makes the following changes to 2nd edition, as amended.
Amendment #3 makes clarifying changes to Amendment #1, concerning the assessment of extraterritorial common property.
-
Bill H 1105 (2011-2012)Summary date: Jun 20 2012 - View Summary
House amendments make the following changes to 2nd edition.
Amendment #1 adds a new subsection (e) to GS 47C-1-105 (from the NC Condominium Act) to declare, except as provided in GS 47C-1-105(c), that extraterritorial common property, as defined in GS 105-277.8(b), is to be taxed and assessed pro rata among the unit owners based on the number of units in the association. Enacts new GS 47F-1-105 (in the NC Planned Community Act) to also declare that extraterritorial common property as defined in GS 105-277.8(b) is to be taxed and assessed pro rata among the lot owners based on the number of the lots in the association. Effective July 1, 2012, and applies to extraterritorial common property acquired on or after that date.
Amendment #2 amends GS 105-277.8(a1) to direct the governing board of a nonprofit homeowners’ association with taxable property under this subsection to annually inform each association member as to the amount of tax due on the property, the property value, and where applicable, to identify the means by which the association will collect the tax due on the property from the members.
-
Bill H 1105 (2011-2012)Summary date: Jun 19 2012 - View Summary
House committee substitute makes the following changes to 1st edition.
Deletes all provisions of previous edition and replaces them with AN ACT TO SIMPLIFY THE COLLECTION OF PROPERTY TAXES THAT ARE DUE ON PROPERTY OWNED BY CERTAIN NONPROFIT HOMEOWNERS ASSOCIATIONS.
Enacts new subsection (a1) to GS 105-277.8 (taxation of nonprofit homeowners’ association property) to provide that the value of extraterritorial common property, which is real property meeting specified conditions and owned by a nonprofit homeowners’ association, is subject to taxation in the jurisdiction in which the property is entirely contained and only in the amount of the local tax of that jurisdiction. Makes conforming changes. Effective for taxes imposed for taxable years beginning on or after July 1, 2012.
-
Bill H 1105 (2011-2012)Summary date: May 23 2012 - View Summary
Amends GS Chapter 88A, the Electrolysis Practice Act, as follows: (1) repeals GS 88A-7 which made funds collected by the North Carolina Board of Electrolysis Examiners [the Board] subject to the Executive Budget Act and oversight by the State Auditor; (2) amends GS 88A-8 to authorize the Board to directly control expenditures of funds held by the Board and to require the Board treasurer or executive director to deposit Board funds in an insured financial institution; (3) amends GS 88A-9 to establish a $100 reexamination fee and a $25 returned check fee; (4) amends GS 88A-11.1 to authorize the Board to waive the laser hair practitioner certification course requirement upon documentation of laser hair removal experience before October 1, 2007; (5) amends GS 88A-13 to authorize the Board to approve all continuing education requirements and changes the annual continuing education requirement from a minimum of 10 hours to a maximum of 10 hours; (6) amends GS 88A-17.1 to provide that serving as a qualified instructor may satisfy practice requrement for licensure; and (7) makes other technical and conforming changes. Effective October 1, 2012.