NC H71

Extends the local government hold harmless provision in G.S. 105-521 indefinitely by removing the August 15, 2012 expiration date and replacing it with "thereafter" for ongoing distributions.

Requires the Secretary to continue annual distributions to local governments where their sales tax share plus estimated replacement revenue is less than 100% of their repealed reimbursement amount, with a minimum payment of $100.

Changes the May 1 reporting deadline from a one-time cutoff in 2012 to an ongoing annual requirement for the Department of Revenue and Fiscal Research Division to submit revenue projections.

Extends the Secretary's reporting requirement to the Revenue Laws Study Committee from January 31, 2013 to ongoing annual reports thereafter.

Applies exclusively to Vance, Warren, and Granville Counties and becomes effective upon enactment.