Amends GS 105-228.30(b) directing the Department of Revenue to credit, from funds remitted to the Department from excise taxes on conveyances, 50% to the NC Housing Trust Fund, 37% (rather than 75%) to the Parks and Recreation Trust Fund, and 13% (rather than 25%) to the Natural Heritage Trust Fund. Applies to instruments recorded on or after July 1, 2011.
DISTRIBUTION MOD TO EXCISE TAX ON CONVEYANCES.
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| View NCGA Bill Details | 2011-2012 Session |
TO MODIFY THE DISTRIBUTION OF PROCEEDS OF THE EXCISE TAX LEVIED ON INSTRUMENTALITIES BY WHICH INTERESTS IN REAL PROPERTY ARE CONVEYED TO ANOTHER.Intro. by Hall, Killian.
Status: Ref To Com On Appropriations (House Action) (Apr 4 2011)
Bill History:
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Wed, 30 Mar 2011 House: Filed
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Mon, 4 Apr 2011 House: Passed 1st Reading
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Mon, 4 Apr 2011 House: Ref To Com On Appropriations
H 574
Bill Summaries:
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Bill H 574 (2011-2012)Summary date: Mar 30 2011 - View Summary
View: All Summaries for Bill