NC H972

Repeals G.S. 105-278.6A, which previously exempted qualified retirement facilities from property tax.

Modifies sales and use tax refund eligibility for retirement facilities by replacing the property tax exemption reference with specific operational criteria including independent living units, skilled nursing or adult care facilities, and nonprofit status.

Requires retirement facilities seeking refunds to demonstrate they serve elderly residents without regard to ability to pay or provide at least 5% of resident revenue in uncompensated care or community services.

Establishes additional eligibility conditions including tax-exempt status, revenue reinvestment requirements, charitable dissolution provisions, and active fundraising programs for financial assistance.

Effective for taxes imposed for taxable years beginning on or after July 1, 2013.