Amends GS 105-275(45) by changing the property tax exclusion for solar energy electric systems from 80% of their appraised value to 60%. Directs that tax proceeds resulting from this amendment be used for public education and community college purposes enumerated in new subsection (b1) of GS 153A-149.
Amends GS 153A-149 by adding a new subsection (b1) requiring counties to use 50% of the tax proceeds collected under GS 105-275(45) for public education and community college: (1) construction, renovations, and repairs; (2) maintenance; and (3) associated debt service.
Effective July 1, 2019, and applies to taxes imposed for taxable years beginning on or after that date.
Bill Summaries: H541 CHANGE EXCLUSION FOR SOLAR ENERGY SYSTEMS.
Bill H 541 (2019-2020)Summary date: Apr 2 2019 - View Summary