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No events on calendar for this bill.
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Representative Larry W. Potts(R)
Representative John R. Bradford, III(R)
Representative Jeff Zenger(R)
Representative Ashton Wheeler Clemmons(D)
Representative Jay Adams(R)
Representative Dean Arp(R)
Representative John Autry(D)
Representative Kristin Baker, M.D.(R)
Representative Mark Brody(R)
Representative Terry M. Brown Jr.(D)
Representative Jerry Carter(R)
Representative Mike Clampitt(R)
Representative Jeffrey Elmore(R)
Representative Terence Everitt(D)
Representative Rosa U. Gill(D)
Representative Bobby Hanig(R)
Representative Jon Hardister(R)
Representative Kelly E. Hastings(R)
Representative Joe John(D)
Representative Jake Johnson(R)
Representative Nasif Majeed(D)
Representative Pat McElraft(R)
Representative Jeffrey C. McNeely(R)
Representative Allen McNeill(R)
Representative Graig R. Meyer(D)
Representative Ray Pickett(R)
Representative Larry G. Pittman(R)
Representative William O. Richardson(D)
Representative Dennis Riddell(R)
Representative Larry C. Strickland(R)
Representative John Szoka(R)
Representative Evelyn Terry(D)
Representative Steve Tyson(R)
Representative Harry Warren(R)
Representative Sam Watford(R)
Representative Diane Wheatley(R)
Representative Donna McDowell White(R)
Representative Shelly Willingham(D)
Representative Matthew Winslow(R)
Representative Michael H. Wray(D)
Representative Lee Zachary(R)
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Ch. SL 2021-113House2021-08-23Signed by Gov. 8/23/2021House2021-08-23Pres. To Gov. 8/17/2021House2021-08-17RatifiedHouse2021-08-16Ordered EnrolledHouse2021-08-12Concurred In S Com SubHouse2021-08-12Added to CalendarHouse2021-08-12Cal Pursuant 36(b)House2021-08-12Regular Message Received For Concurrence in S Com SubHouse2021-08-11Regular Message Sent To HouseSenate2021-08-11Passed 3rd ReadingSenate2021-08-10Passed 2nd ReadingSenate2021-08-10Reptd FavSenate2021-08-09Re-ref Com On Rules and Operations of the SenateSenate2021-07-21Com Substitute AdoptedSenate2021-07-21Reptd Fav Com SubstituteSenate2021-07-21Re-ref to Finance. If fav, re-ref to Rules and Operations of the SenateSenate2021-07-14Withdrawn From ComSenate2021-07-14Ref To Com On Rules and Operations of the SenateSenate2021-05-06Passed 1st ReadingSenate2021-05-06Regular Message Received From HouseSenate2021-05-06Regular Message Sent To SenateHouse2021-05-06Passed 3rd ReadingHouse2021-05-05Passed 2nd ReadingHouse2021-05-05Placed On Cal For 05/05/2021House2021-05-04Cal Pursuant Rule 36(b)House2021-05-04Reptd FavHouse2021-05-04Re-ref Com On Rules, Calendar, and Operations of the HouseHouse2021-04-29Reptd Fav Com SubstituteHouse2021-04-29Re-ref Com On FinanceHouse2021-04-01Reptd FavHouse2021-04-01Ref to the Com on Local Government - Land Use, Planning and Development, if favorable, Finance, if favorable, Rules, Calendar, and Operations of the HouseHouse2021-03-15Passed 1st ReadingHouse2021-03-15FiledHouse2021-03-11
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FiledNo fiscal notes available.Edition 1No fiscal notes available.Edition 2No fiscal notes available.Edition 3No fiscal notes available.RatifiedNo fiscal notes available.SL 2021-113No fiscal notes available.
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CONSTRUCTION
PRESENTED
PROPERTY
PUBLIC
RATIFIED
REAL ESTATE
TAXATION
TAXES
PROPERTY
CHAPTERED
CONSTRUCTION INDUSTRY
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105 (Chapters); 105-277.02 (Sections)
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No counties specifically cited.
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H273: Modify Builders Inventory Tax Exclusion. Latest Version
Session: 2021 - 2022
GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2021
SESSION LAW 2021-113
HOUSE BILL 273
AN ACT to exempt from property tax the increase in value of PROPERTY due to the CONSTRUCTION of townhouses held for sale by a builder.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105‑277.02(a) reads as rewritten:
(a) Residential Real Property. – Residential real property held for sale by a builder is designated a special class of property under authority of Article V, Sec. 2(2) of the North Carolina Constitution. For purposes of this subsection, residential real property is real property that is intended to be sold and used as an individual's residence immediately or after construction of a residence, and the term excludes property that is either occupied by a tenant or used for commercial purposes such as residences shown to prospective buyers as models. Any increase in value of this classified property attributable to subdivision of, of the property, improvements other than buildings, buildings made on the property, or the construction of either a new single‑family residence residence, a townhouse, or a duplex on the property by the builder is excluded from taxation under this Subchapter as long as the builder continues to hold the property for sale. In no event shall this exclusion extend for more than three years from the time the improved property was first subject to being listed for taxation by the builder.
SECTION 2. This act is effective for taxes imposed for taxable years beginning on or after July 1, 2022.
In the General Assembly read three times and ratified this the 16th day of August, 2021.
s/ Ralph Hise
Presiding Officer of the Senate
s/ Mike Clampitt
Presiding Officer of the House of Representatives
s/ Roy Cooper
Governor
Approved 11:49 a.m. this 23rd day of August, 2021