Bill Summary for H 124 (2011-2012)
Feb 24 2011
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TO UPDATE THE REFERENCE TO THE INTERNAL REVENUE CODE.Intro. by Howard, Brubaker, Starnes, Setzer.
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House committee substitute makes the following changes to 1st edition. Amends proposed GS 105-130.5(a)(23) and GS 105-134.6(c)(15) to provide that for the purposes of those subdivisions, section 179 property has the same meaning as under section 179 of the Code as of January 1, 2011. Deletes proposed GS 105-32.2A (Election to receive stepped-up basis for 2010).