NC S1398

Requires the Secretary of Revenue to publish a 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 impact analysis reports for finance committees within 15 days of a request regarding bills that would increase, decrease, or redistribute tax by more than $20,000,000

Reports must present tax burden distribution across overall income distribution and by income classes broken down by quintiles using a systemwide incidence measure that appropriately measures equality and inequality

Reports must use the broadest measure of economic income for which reliable data is available

Act becomes effective January 1, 2011