NC H351

Requires the Utilities Commission to adjust rates for electricity, piped natural gas, and public water and wastewater services to reflect tax changes enacted in S.L. 2013-316.

Mandates that utility rate adjustments account for the repeal of certain tax provisions, increases in sales tax rates on utilities, and the reduction in the corporate income tax rate under G.S. 105-130.3.

Requires utilities to add interest to customer refunds resulting from the corporate income tax rate reduction effective for taxable years beginning after January 1, 2014, with interest rates set according to G.S. 62-130.

Excludes excess deferred income tax amounts from refunds subject to interest requirements.

Makes subsection (b) effective January 1, 2014, while remaining provisions are effective upon enactment, unless utilities implemented rate changes by January 1, 2015 to effectuate refunds.