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NC S627
Bill
AI Summary
- Excludes real and personal property owned by the North Carolina Cattlemen's Association and local cattlemen's associations from property taxation when used for purposes consistent with the Association's mission
- Property exemption applies to facilities provided by associations for buying and selling cattle, regardless of the amount of public business conducted
- Exemption requires that monies received by the Association for such purposes do not exceed reasonable expenses incurred in providing the facility
- Allows exemption of additional adjacent real property as necessary for convenient normal use of buildings
- Effective for taxes imposed for taxable years beginning on or after July 1, 2023
Legislative Description
Cattlemen's Associations Tax Exclusion
Agriculture; Animals; Corporations
Last Action
Re-ref to Finance. If fav, re-ref to Rules and Operations of the Senate
4/17/2023
Committee Referrals
Finance4/17/2023
Rules and Operations of the Senate4/6/2023
Full Bill Text
No bill text available