Bill Summary for H 351 (2015-2016)

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Summary date: 

Apr 1 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
House Bill 351 (Public) Filed Wednesday, March 25, 2015
AN ACT TO CLARIFY TAX CHANGES ENACTED IN S.L. 2013-316 MUST BE REFLECTED IN UTILITY RATES.
Intro. by Arp, Collins, Warren.

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Bill summary

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.