NORTH CAROLINA GENERAL ASSEMBLY

1975 SESSION

CHAPTER 534

HOUSE BILL 647

AN ACT TO EXEMPT TRANSFERS OF PROPERTY TO THE UNITED STATES AND TO OTHER STATES FROM THE INHERITANCE TAX.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 105-3 is hereby amended by rewriting subsection (1) thereof to read as follows:

"(1)      Property passing to or for the use of any one or more of the following: the United States, any state, territory or any political subdivision thereof, or the District of Columbia, for exclusively public purposes."

Sec. 2.  All proposed and pending inheritance tax assessments by the North Carolina Department of Revenue on transfers covered by this act are hereby forgiven and abated.

Sec. 3.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 10th day of June, 1975.