House committee substitute makes the following changes to the 1st edition. Amends Section 1(c) of the bill to add that utility refunds resulting from the reduction of the corporate income tax that are subject to interest do not include any amounts to be refunded arising from excess deferred income taxes due to the reduction in the corporate income tax rate effective for taxable years beginning on or after January 1, 2014. Makes clarifying changes.
CLARIFY UTILITY RATES.
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| View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO CLARIFY TAX CHANGES ENACTED IN S.L. 2013-316 MUST BE REFLECTED IN UTILITY RATES.Intro. by Arp, Collins, Warren.
Status: Re-ref Com On Finance (House Action) (Apr 1 2015)
Bill History:
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Wed, 25 Mar 2015 House: Filed(link is external)
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Thu, 26 Mar 2015 House: Passed 1st Reading(link is external)
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Thu, 26 Mar 2015 House: Ref To Com On Public Utilities(link is external)
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Mon, 30 Mar 2015 House: Serial Referral To Finance Added(link is external)
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Wed, 1 Apr 2015 House: Reptd Fav Com Substitute(link is external)
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Wed, 1 Apr 2015 House: Re-ref Com On Finance(link is external)
H 351
Bill Summaries:
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Bill H 351 (2015-2016)Summary date: Apr 1 2015 - View Summary
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Bill H 351 (2015-2016)Summary date: Mar 25 2015 - View Summary
Amends Section 4.2 of SL 2013-316 as the title indicates, effective January 1, 2014.
Also requires the Utilities Commission to order a utility to add interest to money refunded to its customers for refunds resulting from the reduction of the corporate income tax rate effective beginning January 1, 2014. Applies to refunds issued on or after the date the act becomes law.
View: All Summaries for Bill