NC H1144

Directs the Revenue Laws Study Committee to examine the scope and application of a 1% privilege tax with an $80 cap on mill machinery and certain other machinery and equipment purchases.

Study may review the criteria for qualifying for the preferential tax rate and whether current law needs clarification or modification.

Study may compare North Carolina's tax treatment of business equipment purchases to other states and examine economic competitiveness issues.

Study may evaluate whether the 1%/$80 rate applies to secondary metal recyclers and whether manufacturing for sale versus performance contracts affects eligibility for the rate.

Committee may report findings and recommended legislation to the 2015 General Assembly upon its convening.