NC H1839

Establishes sales and use tax refund eligibility for owners of paper-from-pulp manufacturing facilities that create at least 200 additional jobs with average weekly wages equal to or greater than the county average wage.

Defines paper-from-pulp manufacturing as industries primarily engaged in manufacturing or converting paper (other than newsprint or uncoated groundwood paper) from pulp or pulp products, or converting sanitary paper stock into sanitary paper products.

Requires facility owners to make minimum required investments within five years of receiving the first refund; failure to meet investment or job creation requirements results in loss of eligibility and forfeiture of all previously received refunds.

Upon forfeiture, owners become liable for repayment of all refunded taxes plus interest at the statutory rate from the date each refund was issued, with payment due 30 days after forfeiture notice.

Effective date is July 1, 2010, applying to sales made on or after that date.