• Summary date: Feb 5 2013 - More information

    Enacts new GS 143B-437.014 to define an opportunity advancement zone as an area (1) that contains one or more contiguous census tracts, block groups, or both and (2) where each tract or block group meets one of the specified household income and unemployment rate measures. Sets a limit of 5% of the total area of the county on the portion of a county included in one or more opportunity advancement zones. Directs the Department of Commerce to annually publish a list of all opportunity advancement zones. Enacts new subsection (k) to GS 143B-437.08 to designate an opportunity advancement zone in a development tier one county as development tier one. Designates a zone located in a county without development tier one designation as the next lower development tier. Amends several provisions in Article 3J (tax credits for growing businesses) of GS Chapter 105 to add opportunity advancement zones, and treats the zones as development tier one areas. Effective for tax years beginning on or after January 1, 2013.

© 2021 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.

Printer-friendly: Click to view