A BILL TO BE ENTITLED
AN ACT to accelerate the repeal of the upper‑income tax bracket.
The General Assembly of North Carolina enacts:
SECTION 1.  Section 34.18(b) of S.L. 2001‑424 reads as rewritten:
"SECTION 34.18.(b)  This section becomes effective for taxable years beginning on or after January 1, 2001, and expires for taxable years beginning on or after January 1, 2003. Notwithstanding G.S. 105‑163.15, no addition to tax may be made under that statute for a taxable year beginning on or after January 1, 2001, and before January 1, 2002, with respect to an underpayment of individual income tax to the extent the underpayment was created or increased by this section."
SECTION 2.  This act is effective when it becomes law.