Bill Summary for H 487 (2017-2018)

Summary date: 

Jun 1 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 487 (Public) Filed Monday, March 27, 2017
AN ACT TO PROVIDE DEFINITIONS TO CLARIFY THE NATIONAL GUARD REEMPLOYMENT RIGHTS AND TO EXTEND THE REEMPLOYMENT APPLICATION PERIOD FOR NATIONAL GUARD MEMBERS WHO HAVE INCURRED AN INJURY DURING THE PERFORMANCE OF STATE ACTIVE DUTY AND TO ADD ADDITIONAL PROTECTIONS FOR ACTIVE AND RESERVE NATIONAL GUARD MEMBERS UPON EARLY TERMINATION OF A RENTAL AGREEMENT.
Intro. by G. Martin, Szoka.

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Bill summary

Senate amendment makes the following changes to the 2nd edition.

Amends GS 42-45 to further extend the protections there for early termination of a rental agreement for members of the Armed Forces to the Active Guard and Reserve and military technicians. Effective when the act becomes law and applies to lease agreements entered into or renewed on or after that date.

The following provisions are effective January 1, 2018, and apply to annual reports filed by business entities on or after that date. 

Amends GS 55-1-40 (concerning corporations), GS 57D-1-03 (concerning limited liability companies), and GS 59-32 (concerning partnerships) by adding and defining the following terms: service-disabled veteranservice-disabled veteran-owned small businessveteran, and veteran-owned small business. Makes technical changes.

Amends GS 55-16-22 (concerning corporations), GS 57D-2-24 (concerning limited liability companies), and GS 59-84.4 (concerning partnerships), by adding that the Secretary of State and Secretary of Revenue must provide space and instructions on the annual report from for a corporation or limited liability company to voluntarily indicate whether it is a veteran-owned small business or a service-disabled veteran-owned small business. The act defines a veteran-owned small business as a business that has annual receipts, combined with the annual receipts of all related persons, that do not exceed $1 million and  one or more veterans own more than 50% of the business. The act defines service‑disabled veteran‑owned small business as a business that has annual receipts, combined with the annual receipts of all related persons, that do not exceed $1 million and one or more service‑disabled veterans own more than 50% of the business.

Enacts new GS 55-16-22.2 (concerning corporations), GS 57D-2-25 (concerning limited liability companies), and GS 59-84.5 (concerning partnerships) to require the Secretary of State to compile summary information, using the information reported under amended GS 55‑16‑22(a4) on the number of veteran‑owned small businesses and the number of service‑disabled veteran‑owned small businesses reporting in this state and annually report this summary information to the Department of Military and Veterans Affairs by March 1.

Allows the Office of the Secretary of State and the Department of Revenue to include in the instructions of the annual report forms an explanation that status as a veteran‑owned small business or service‑disabled veteran‑owned small business is being requested to assist the State in documenting the importance and impact of the State's military population in our communities and on our State and local economies. Requires the Office of the Secretary of State to submit the first annual report required by the act by March 1, 2019.

Makes conforming changes to the act's long title.

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