NC H1849

Requires the Department of Revenue Secretary to publish a biennial report by March 1 of each odd-numbered year analyzing the overall incidence of income tax, sales and excise taxes, and property tax.

Mandates the Secretary prepare an impact analysis report within 15 days when requested by a finance committee chair for any bill proposing tax changes affecting more than $20,000,000 in tax revenue.

Requires tax incidence reports to present tax burden distribution across the overall income distribution using a systemwide incidence measure and break down data by income quintiles.

Specifies reports must use the broadest measure of economic income available for which reliable data exists.

Effective date is January 1, 2011.