Bill Summary for H 2 (2017-2018)

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Bill: PROVIDE CERTAIN PROPERTY TAX RELIEF.

Summary date: 

Mar 8 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 2 (Public) Filed Wednesday, January 25, 2017
AN ACT TO INCREASE THE DISABLED VETERAN PROPERTY TAX HOMESTEAD EXCLUSION, TO REIMBURSE LOCAL GOVERNMENTS FOR THEIR RESULTING REVENUE LOSS, AND TO PROVIDE A PROPERTY TAX HOMESTEAD EXCLUSION FOR THE SURVIVING SPOUSE OF QUALIFYING EMERGENCY PERSONNEL.
Intro. by Dollar, Saine, Hardister, R. Turner.

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Bill summary

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

Amends GS 105­277.1C(a) to define hold harmless amount and total hold harmless amount.

Enacts new GS 105­277.1C(g), directing county tax collectors to notify the Secretary of Revenue (Secretary) of the county's total hold harmless amount by September 1 of each year. Directs the Secretary to distribute to each county its respective total hold harmless amount by December 31 of each year. Bars counties that fail to notify the Secretary of Revenue by the due date from receiving the reimbursement. Directs that any funds received by a county that are attributable to a city within the county to be distributed to that city. Directs that funds received by a county or city because it was collecting taxes for another unit of government or special district must be credited to the funds of that other unit or district in accordance with Local Government Commission regulations. Directs the Secretary to draw from collections under GS Chapter 105, Article 4, Part 2, to pay for the reimbursement and cost to the Department of Revenue of administering the reimbursement.

Amends the long title of the act.