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NC H441

Bill

Official Source

Status

Introduced

3/29/2021

Primary Sponsor

Patricia McElraft

Click for details

Origin

House of Representatives

2021-2022 Session

AI Summary

  • Applies exclusively to Carteret County for distribution of local sales and use tax revenues
  • Requires Carteret County to use the Ad Valorem Method for distributing tax proceeds among the county and its municipalities based on property tax levies rather than per capita population
  • Under the Ad Valorem Method, tax proceeds are distributed in proportion to the total amount of ad valorem taxes levied by each county and municipality on property with a tax situs in the county during the preceding fiscal year
  • Includes provisions for handling merged school administrative units, public service company property valuation appeals, and exclusion of counties/municipalities that fail to timely report ad valorem tax information to the Department of Revenue
  • Effective upon enactment

Legislative Description

Require Ad Valorem LOST Distrib./Carteret

Counties

Last Action

Ref to the Com on Local Government, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the House

3/30/2021

Committee Referrals

Local Government3/30/2021

Full Bill Text

No bill text available