Bill Text: NC H1249 | 2010 | Regular Session | Amended
Bill Title: Homebuilder Property Tax Deferral Change
Spectrum: Moderate Partisan Bill (Democrat 8-1)
Status: (Passed) 2010-07-22 - Ch. SL 2010-140 [H1249 Detail]
Download: North_Carolina-2010-H1249-Amended.html
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2009
H 2
HOUSE BILL 1249
Senate Commerce Committee Substitute Adopted 6/1/10
Short Title: Homebuilder Property Tax Deferral Change. |
(Public) |
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Sponsors: |
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Referred to: |
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April 9, 2009
A BILL TO BE ENTITLED
AN ACT to modify the inventory property tax deferral.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105‑277.1D(a) reads as rewritten:
"(a) Classification. – A residence owned and constructed
by a builder and owned by the builder or a business entity of which the
builder is a member, as defined in G.S. 105‑277.2, is designated
a special class of property under Section 2(2) of Article V of the North
Carolina Constitution and is taxable in accordance with this section. For
purposes of this section, a "residence" is an improvement, other than
remodeling, renovating, rehabilitating, or refinishing, by a builder to real
property that is intended to be sold and used as an individual's residence,
that is unoccupied, and for which a certificate of occupancy authorized by law
has been issued."
SECTION 2. This act is effective for taxes imposed for taxable years beginning on or after July 1, 2010.