GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 179

Short Title:  Exempt All Intangible Property.	(Public)

─────────────────────────────────────── 
Sponsors: Senators Blust, Webster; Ballantine, Carpenter, Carrington, Clark, Cochrane, Conder, East, Garwood, Hartsell, Horton, Kerr, Kincaid, Ledbetter, Odom, Page, Phillips, Rand, Rucho, Shaw of Guilford, and Warren.

─────────────────────────────────────── 
Referred to:  Finance.

─────────────────────────────────────── 

February 18, 1997

A BILL TO BE ENTITLED
AN ACT TO EXEMPT ALL INTANGIBLE PROPERTY FROM PROPERTY TAX.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-275(31) reads as rewritten:
"(31)	Intangible personal property."
Section 2.  G.S. 105-275(31a), (31b), (31c), and 31(d) are repealed.
Section 3.  G.S. 105-276 reads as rewritten:
"§ 105-276.  Exemption of intangible personal property.
Intangible personal property is excluded from taxation under G.S. 105-275 and is not, therefore, subject to this Subchapter."
Section 4.  This act is effective for taxes imposed for taxable years beginning on or after July 1, 1997.