Identical to H 27, filed 1/30/13.
Amends GS 105-228.5(d)(3) (concerning taxes measured by gross premiums) to revise the allocation of the net proceeds of the additional tax on gross premiums on insurance contracts for property coverage as follows. Credits 27% to the Workers' Compensation Fund and 18% to the NC Firemen's and Rescue Squad Workers' Pension Fund (currently, this 45% is credited to the General Fund). Effective July 1, 2013.
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A BILL TO BE ENTITLED AN ACT MODIFYING THE ALLOCATION OF THE PROCEEDS FROM THE GROSS PREMIUM TAX ON INSURANCE COMPANIES UNDER G.S. 105-228.5 TO INCLUDE DEDICATED FUNDING FOR THE NORTH CAROLINA FIREMEN'S AND RESCUE SQUAD WORKERS' PENSION FUND AND THE WORKERS' COMPENSATION FUND FOR THE BENEFIT OF VOLUNTEER SAFETY WORKERS.Intro. by Hartsell.
Status: Ref to Commerce. If fav, re-ref to Finance (Senate Action) (Feb 4 2013)
Bill S 31 (2013-2014)Summary date: Jan 31 2013 - More information