Bill Summary for S 462 (2019-2020)

Summary date: 

Jun 28 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 462 (Public) Filed Monday, April 1, 2019
AN ACT TO REPLACE NORTH CAROLINA EDUCATION REQUIREMENTS TO BECOME A LICENSED OR CERTIFIED APPRAISER WITH THE REQUIREMENTS OF THE APPRAISAL FOUNDATION APPRAISER QUALIFICATIONS BOARD, TO ALLOW THE NORTH CAROLINA APPRAISAL BOARD TO COLLECT NEW FEES, TO MAKE OTHER MODIFICATIONS THAT WOULD ALLOW NORTH CAROLINA APPRAISAL MANAGEMENT COMPANIES TO BE PLACED ON THE APPRAISAL MANAGEMENT COMPANY NATIONAL REGISTRY, AND TO MODIFY CERTAIN JMAC AWARDS.
Intro. by Burgin, McInnis, Wells.

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Bill summary

Senate committee substitute to the 2nd edition makes the following changes.

Amends GS 143B-437.012(d) regarding grant eligibility requirements under the Job Maintenance and Capital Development Fund. Concerning the eligibility requirements for a "heritage manufacturing employer," adds a new provision to allow an agreement with the business to provide that the grant paid out over the term of the agreement be in varying annual payments and in amounts deviating from the factors listed in subsection (l) of the statute for any individual payment, so long as the factors are considered in the aggregate award to be paid to the business over the entire term of the agreement. Makes conforming changes to the act's long title.

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