Senate Bill 605 Summary

• Repeals the Business Opportunity Investment tax credit and modifies recycling facility tax benefits under Article 5 of Chapter 105.

• Changes sales tax definitions and exemptions including modifications to prepared food, storage, accommodation sourcing, service contracts, and admission charges to entertainment activities.

• Creates a new local sales and use tax for public education (Article 43A) allowing counties to levy up to one-half percent tax approved by referendum, with proceeds used for school capital projects, teacher salaries, or community college support.

• Modifies excise taxes on tobacco products, beer, wine, and motor fuel, including changes to bond requirements for distributors and refund calculations for nonprofits and special mobile equipment.

• Amends North Carolina Medical Board provisions including term limits for board members, application fees, registration fees, licensure rules, and establishes a Health Program for Medical Professionals replacing prior peer review agreements.