GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 693

HOUSE BILL 1156

 

AN ACT TO CLASSIFY FOR AD VALOREM TAX PURPOSES CERTAIN REAL PROPERTY OWNED BY NONPROFIT CORPORATIONS ORGANIZED FOR HISTORIC PRESERVATION PURPOSES.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 105-275 is amended by adding at the end thereof a new subsection (29), to read as follows:

"(29)   Real property and easements wholly and exclusively held and used for nonprofit historic preservation purposes by a nonprofit historical association or institution, including real property owned by a nonprofit corporation organized for historic preservation purposes and held by its owner exclusively for sale under an historic preservation agreement prepared and recorded under the provisions of the Conservation and Historic Preservation Agreements Act, Article 4, Chapter 121 of the General Statutes of North Carolina."

Sec. 2.  This act shall become effective January 1, 1984.

In the General Assembly read three times and ratified, this the 6th day of July, 1983.