GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2009
H 2
HOUSE BILL 1249
Senate Commerce Committee Substitute Adopted 6/1/10
Short Title: Homebuilder Property Tax Deferral Change. |
(Public) |
|
Sponsors: |
|
|
Referred to: |
|
|
April 9, 2009
A BILL TO BE ENTITLED
AN ACT to modify the inventory property tax deferral.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105-277.1D(a) reads as rewritten:
"(a) Classification.
- A residence owned and constructed by a builder and owned by the
builder or a business entity of which the builder is a member, as defined in
G.S. 105-277.2, is designated a special class of property under
Section 2(2) of Article V of the North Carolina Constitution and is taxable in
accordance with this section. For purposes of this section, a
"residence" is an improvement, other than remodeling, renovating,
rehabilitating, or refinishing, by a builder to real property that is intended
to be sold and used as an individual's residence, that is unoccupied, and for
which a certificate of occupancy authorized by law has been issued."
SECTION 2. This act is effective for taxes imposed for taxable years beginning on or after July 1, 2010.