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NC S920
Bill
AI Summary
- Amends the North Carolina Constitution to reduce the maximum allowable state income tax rate from 7 percent to 5 percent in Section 2 of Article V
- Requires voter approval through a referendum to be held at the statewide general election on November 3, 2026
- Ballot question asks voters whether to "reduce the income tax rate in North Carolina to a maximum allowable rate of five percent (5%)"
- Amendment becomes effective upon certification by the State Board of Elections if a majority of votes are in favor, and applies to taxable years beginning January 1, 2027 or later
- Sponsored by Senators Berger, Rabon, and P. Newton
Legislative Description
Const. Ad. - Income Tax Rate Cap Modification
Constitution
Last Action
Ref To Com On Rules, Calendar, and Operations of the House
12/9/2024
Committee Referrals
Rules, Calendar, and Operations of the House12/9/2024
Full Bill Text
No bill text available