Bill Summary for S 545 (2011-2012)
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Summary date:
Apr 7 2011
Bill Information:
| View NCGA Bill Details(link is external) | 2011-2012 Session |
TO DIRECT THE REVENUE LAWS STUDY COMMITTEE TO STUDY POLICIES AND INCENTIVES THAT CAN BE ESTABLISHED TO STIMULATE THE CREATION OF DEVELOPMENT READY SITES TO AID IN JOB RECRUITMENT AND RETENTION EFFORTS.Intro. by Vaughan, Brunstetter.
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Bill summary
Substantively identical to H 628, filed 4/5/11.
Directs the Revenue Laws Study Committee to study incentives similar to tools for farmland preservation, brownfields redevelopment, historic preservation, and land conservation to stimulate "development ready" sites. The study shall include discussion of property tax relief using agricultural use value taxation for development ready sites as well as income tax deductions or credits. Authorizes appointment of an advisory subcommittee consisting of specified economic development interests. Report to be made to the 2012 Regular Session of the General Assembly.