NC H959

Extends the sunset date for the one percent/$80 privilege tax on machinery and equipment purchases for large manufacturing and distribution facilities from July 1, 2018 to July 1, 2020.

Changes the investment period requirement for large manufacturing facilities from five years to seven years to qualify for the tax benefit, while maintaining the $80 million investment threshold and 550-employee minimum.

Directs the Revenue Laws Study Committee to examine the scope and application of the one percent/$80 privilege tax on mill machinery and other equipment purchases by certain industries.

Study scope includes comparing North Carolina's tax treatment of business equipment to other states, evaluating economic competitiveness, comparing treatment of similar taxpayers, and assessing whether simpler or more equitable approaches exist.

Committee may report findings and recommended legislation to the 2014 Regular Session of the General Assembly.