NC S545

Revenue Laws Study Committee shall study incentives to stimulate creation of "development ready" sites for job recruitment and retention efforts.

Study shall examine property tax relief maintaining agricultural assessment values for sites with horizontal infrastructure in place, and income tax deductions or credits for land banking, industrial redevelopment, rezoning, and infrastructure improvements.

Committee shall appoint an advisory subcommittee with up to 18 members including at least five House members, five Senate members, and eight representatives from business and local government organizations.

Committee must report findings and legislative recommendations to the 2012 Session of the General Assembly.

Act becomes effective upon passage.