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NC S817

Bill

Official Source

Status

Introduced

5/5/2016

Primary Sponsor

Robert Rucho

Click for details

Origin

Senate

2015-2016 Session

AI Summary

  • Amends Article V, Section 2 of the North Carolina Constitution to reduce the maximum state income tax rate from 10 percent to 5.5 percent.

  • Requires voter approval through a statewide general election on November 8, 2016.

  • If approved by a majority of voters, the amendment becomes effective for taxable years beginning on or after January 1, 2017.

  • The amendment maintains existing provisions for personal exemptions and deductions to ensure only net incomes are taxed.

Legislative Description

Const. Amd. - Max. Income Tax Rate of 5.5%

Last Action

Re-ref Com On Rules and Operations of the Senate

6/24/2016

Committee Referrals

Rules and Operations of the Senate6/24/2016
Finance5/9/2016

Full Bill Text

No bill text available