Bill Summary for H 168 (2015-2016)

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Bill: EXEMPT BUILDERS' INVENTORY.

Summary date: 

Jun 16 2015
S.L. 2015-223

Bill Information:

View NCGA Bill Details(link is external)2015-2016 Session
House Bill 168 (Public) Filed Thursday, March 5, 2015
AN ACT TO EXEMPT FROM PROPERTY TAX THE INCREASE IN VALUE OF REAL PROPERTY HELD FOR SALE BY A BUILDER, TO THE EXTENT THE INCREASE IS ATTRIBUTABLE TO SUBDIVISION OR IMPROVEMENTS BY THE BUILDER.
Intro. by Hager, Millis, Brody, Collins.

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Bill summary

House committee substitute makes the following changes to the 1st edition.

Amends the long title. 

Amends proposed GS 105-277.02 to provide that the statute applies to residential real property (previously, provided that it applied to all real property for sale by a builder). Defines residential real property for purposes of this statute.

Deletes proposed changes made to GS 105-287(d).

Amends the effective date of the act, providing that it is effective July 1, 2016 (was, July 1, 2015).