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NC H112
Bill
Status
Introduced
2/14/2023
Primary Sponsor
Diane Wheatley
Click for details
AI Summary
- Adds income from honey sales to the list of qualifying gross income for North Carolina's Present-Use Value (PUV) program for agricultural land
- Agricultural land must produce an average gross income of at least $1,000 over the three years preceding January 1 of the year the PUV benefit is claimed
- Expands the definition of qualifying gross income to include "the sale of honey" alongside existing categories such as sale of agricultural products, grazing fees, bee sales, beehive sales, and governmental conservation program payments
- Effective for taxes imposed for taxable years beginning on or after July 1, 2023
- Sponsored by Representatives Wheatley, Penny, Shepard, and Moss
Legislative Description
Consider Honey Sales as Income for PUV
Agriculture; Commerce; Property; Public; Real Estate; Taxation; Taxes
Last Action
Ref to the Com on Finance, if favorable, Rules, Calendar, and Operations of the House
2/15/2023
Committee Referrals
Finance2/15/2023
Full Bill Text
No bill text available